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How do I know I am on the right tax code?

How do I know if my tax code is right or wrong?

  • Hi, i was just wondering if anyone could tell me how I know if my tax code is right or wrong. i have just read something about emergency tax codes, and was wondering if mine was right for me. Its a minefield out there...lol Its 543L by the way lol

  • Answer:

    It looks as though your employer hasn't budget-uprated yet. Usually individual notifications of this aren't sent out, instructions are sent to employers, telling them to uprate all L suffix code numbers. Ask employer what is happening. If you don't get any sense, contact tax office, explain position, and ask for form P6 (coding notification) be sent to your employer, showing correct code number.

Wendy T at Yahoo! Answers Visit the source

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Other answers

543L would have been correct before September but it rose to 603L on 7th September so if you've been paid after that point, your employer should have altered it. In response to the guy above, 543L and 603L are the emergency codes, the BR is a basic rate code but people always confuse the terminology

agius1520

It's an emergency tax code if it's followed by week1/month1 (W1/M1). This indicates that it's not operated on a cumulative basis and depending upon how much you earn in any one week or month and whether you started work during the course of the tax year, you may end the year by having too much tax deducted. Your tax code is dependent upon your personal circumstances but provided there are no complicating factors, the standard personal allowance for the current tax year is £6035 and this equates to a tax code of 603L.

Ellis

It changed end of september from 534L to 603L and neither of them are emergency tax codes but check out tax code website and check.

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