Tax Codes

Matallica · 24 Apr 2008 at 17:51

Im feeling robbed at the moment

Up until a few weeks ago I was on the tax code 522L and was getting taxed roughly £10 a week. Now its changed to 543L and Im getting taxed about £30 quid a week, what an out rage. Anyone else in a similar predicament ?

Is there anything I can do!! ?

Thanks in advance

RDM · 24 Apr 2008 at 17:53

If you earn less than about 19k a year you will be paying more tax due to the removal of the 10p rate of tax. It has been on the news quite a bit...

Stinky · 24 Apr 2008 at 17:53

i was on 522L i hope mine doesnt change, will find out next week!

RDM · 24 Apr 2008 at 17:54

522L to 543L is a good thing. It basically means you can earn more before they start taxing you. (£5220 up to £5430 pa).

scorza · 24 Apr 2008 at 17:55

Nothing to do with your tax code 543L means you pay less tax than 522L.

Probably to do with the abolition of the 10p rate of income tax - see Speaker's Corner for an interesting debate on it. The government have agreed to compensate low paid workers who have lost out but haven't said how exactly (my guess would be tax credits) so keep your eye out for updates.

Matallica · 24 Apr 2008 at 17:58

If 543L means Im paying less tax than 522L then why am I being payed less whilst on 543L ?

I got more being on 522L!

RDM · 24 Apr 2008 at 18:11

As has been said twice so far, the abolition of the 10p rate of tax. It has been on the news quite a bit the last few days.

Glaucus · 24 Apr 2008 at 18:15

Thats nothing to do with the 10p rate. It won't affect it that much. 100-200 a year. Not £20 a week.

did you only partially work last year?

Matallica · 24 Apr 2008 at 18:21

The abolition of the 10p tax rate just happened a few days ago though didnt it ?

Will my wage go back to what it was before all of this palarvar ?

Glaucus · 24 Apr 2008 at 18:23

Matallica said:
The abolition of the 10p tax rate just happened a few days ago though didnt it ?

Yes and it will affect peoples pay, however not by anywhere near as much as you have seen.

Matallica said:
Will my wage go back to what it was before all of this palarvar ?

That depends if you paid the right tax last year?

How much did you earn last year? and how much you earning this year?

RDM · 24 Apr 2008 at 18:23

Matallica said:
Will my wage go back to what it was before all of this palarvar ?

Probably not. Once they get it they really don't like giving it back

Matallica · 24 Apr 2008 at 18:25

Whatever the weather paying roughly £30 tax a week seems a bit harsh to me, rubbish country!

Glaucus · 24 Apr 2008 at 18:28

Matallica said:
Whatever the weather paying roughly £30 tax a week seems a bit harsh to me, rubbish country!

You'll hate it even more when you pay many times that.

You need to find out which year is wrong. If the pays stayed the same, one or the other is wrong.

If you where paying to little last year they will find out and claim it back.

Guv · 24 Apr 2008 at 18:33

AcidHell2 said:
You'll hate it even more when you pay many times that.

You need to find out which year is wrong. If the pays stayed the same, one or the other is wrong.

If you where paying to little last year they will find out and claim it back.

I think the tax code would have been changed if they were recovering underpaid tax, so that's probably unlikely.

There might be a reason but without having all details like gross pay, how often you're paid, exactly how much tax and NI was paid it's not going to be easy to figure out.