New tax code

[Mesque1899]

Anyone elses tax code change to 772L, iv no 2nd job or other benefits coming in. Thought id ask here see if anyone elses has changed. TIA

[DGH]

It should only be reduced if you owe tax for some reason, or if you've a (quite substantial) benefit in kind.

[Mesque1899]

It should only be reduced if you owe tax for some reason, or if you've a (quite substantial) benefit in kind.

This is a bit of a long shot but im in middle of transferring offices could that have any effect on my code, its only other thing i can think. Ill be ringing tax office tomorrow like.

[yellowbelly]

It should only be reduced if you owe tax for some reason, or if you've a (quite substantial) benefit in kind.

This is a bit of a long shot but im in middle of transferring offices could that have any effect on my code, its only other thing i can think. Ill be ringing tax office tomorrow like.

This seems quite a significant drop if your previous code was 1257L or something similar.

They should send you a letter or indicate within your online tax portal why your tax code has reduced. Other things it could be are dividends, CGT or savings interest that has breached the allowances for those items in previous year/years. Another thought - did you hold RM shares within the Employee Share Scheme did you? You didn't sell any that didn't qualify for the full exemption of NI and Income Tax before the take over did you? (Can't remember the exact in's and out's of the takeover and employee shares - it's just a thought).

[Gary55]

Mine.is actually 584L it's actually changed a couple of times due to interest on savings accounts etc. A nice problem to have maybe but bloody annoying