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Please check your tax code!

6 replies

Letmeeatcakecakecake · 07/01/2015 12:23

Hey everyone,

Sorry to post here. Was mainly for traffic. MNHQ please move this to where appropriate if it can't stay here.

Due to my qualifications, I get a lot of people I know asking me about their income tax. You would not believe the amount who are on the incorrect tax code and are paying too much tax.

So, as it's January and everyone tends to be a little bit broke and looking for ways to save money. Here is a tip- check your tax code.

You can find your tax code on your pay slip, p45/ p60. If you are on a 'BR' code, you are NOT being given a personal allowance and are over paying by up to £2,000 (through 2014/15). If this is the case, please get in touch with HMRC to have this rectified.

Someone I pointed this out to recently received over £3,000 in overpaid tax back. Another person has been on the wrong code for FIVE YEARS, so it's worth looking into.

Sorry for posting here, just I see this happen so regularly I just wanted to get the word out to as many people as possible.

OP posts:

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SomeSortOfDeliciousBiscuit · 07/01/2015 14:17

Seconded, but I would also add that if you've been in the same employment for years, with no company car or expenses involved, then it's unlikely your code is wrong. It's always worth checking and ALWAYS worth questioning a BR code, or a code with a mth/wk1 or an X on the end.

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MyLittleFinger · 07/01/2015 14:19

Thanks for posting that :) Can I ask you... how easy is it to get a replacement P60 and how long might it take?

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SomeSortOfDeliciousBiscuit · 07/01/2015 15:28

Your tax office isn't responsible for replacing a lost P60 (used to work there, this was a common question). You need to ask your employer for a statement of earnings instead, which will have all the same information on it as a P60. You may also be able to use your March payslip too, if you're paid monthly, as that should also have the same information on it, but best to ask for the statement just in case it doesn't. Hope that helps.

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MyLittleFinger · 07/01/2015 17:18

Thanks SomeSort :)

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Fallulah · 07/01/2015 19:49

It's ok to have a BR code if you have more than one job - I do for my second job; it just means I get all my allowance in my first job. HMRC were really helpful when I phoned up to sort it out. They had the codes the wrong way round but sorted it out very quickly.