Sign in to follow this  
Followers 0
riccichang

What is your tax code?

10 posts in this topic

I wonder whether I am paying the correct amount of tax.

Do you know what should our tax code be?

Please advice!

;)

Share this post


Link to post
Share on other sites

www.listentotaxman.com

this site will be of help

cheers

Share this post


Link to post
Share on other sites
I wonder whether I am paying the correct amount of tax.

Do you know what should our tax code be?

Please advice!

;)

Tax codes differ on individual basis and is dependent on several factors. U can contact ur local tax office or your trust finance office to make sure you r on the right tax code.

Share this post


Link to post
Share on other sites
;) :-? Alternatively, a tax advisor/solicitor may help you determine your correct tax code.

Share this post


Link to post
Share on other sites

Assuming it is your only job, and that you don't have any extra allowances, I think it should be 522L. If I remember rightly, the 522 bit means you get the single person's tax free allowance of £5220. THe one you want to avoid is the emergency code- usually 'BR'- which stands for Basic Rate. This means you pay tax on every penny you earn, rather than earning your first £5220 before paying any tax.

Share this post


Link to post
Share on other sites

Thats well explained Ros ;)

Share this post


Link to post
Share on other sites

What if i am married with 4 children .Should my tax code still be 522L

Share this post


Link to post
Share on other sites

Sorry, Vavavoom- dunno. I'm married with three, but my o/h is a GP so an accountant does his tax stuff. Can't even remember if there are any kiddy allowances...

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!


Register a new account

Sign in

Already have an account? Sign in here.


Sign In Now
Sign in to follow this  
Followers 0