Tax Man is a modern day highway man

[FLYER]

Originally Posted by Lancpudn

Yeah I could certainly believe that, & all the while weeks are passing by and you're still at square one.

I have noticed the same thing with other companies, ie DVLA, insurance etc, If your problem isn't in the drop down box option on their computer screen then basically your stuffed.

When it comes to form filling the DWP have Prince Johns mob beat hands down.

[Teflon]

Don't know if this helps, but if you have any savings, from next tax year, all interest from banks; building societies etc will be paid free of tax deductions.

This means that any tax that you would have paid on savings interest has to be deducted via other income using your new tax code, hence a lower coding.

Cliff

[Darcydog]

Originally Posted by topman

Have you had a change of job or employer recently? Sounds like it's an emergency tax code.

My thoughts

[v-man]

Originally Posted by Teflon

Don't know if this helps, but if you have any savings, from next tax year, all interest from banks; building societies etc will be paid free of tax deductions.

This means that any tax that you would have paid on savings interest has to be deducted via other income using your new tax code, hence a lower coding.

Cliff

I thought from April 2016 the new personal savings allowance is to be introduced, meaning a basic rate taxpayer would not be taxed on the first £1000 of interest and that a higher rate tax payers allowance was half that at £500.

[Teflon]

That's right, but if HMR&C believe you are likely to receive more than £1000 in savings interest, they will take it into account when setting your new tax code, which may then be lower than you might normally expect.

Shouldn't have an impact on most folk, but if someone has a large amount of savings it will likely make a difference.

Cliff

[v-man]

Originally Posted by Teflon

That's right, but if HMR&C believe you are likely to receive more than £1000 in savings interest, they will take it into account when setting your new tax code, which may then be lower than you might normally expect.

Shouldn't have an impact on most folk, but if someone has a large amount of savings it will likely make a difference.

Cliff

Thanks for clarification. I don't fit that bracket, but I will keep an eye on my tax code, just in case.

[Polly]

I have a private pension, and the state pension, so the state pension is deducted from my tax allowance, giving me a very low tax code which is applied to my private pension. Might something like that not be the issue here too?