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Tax

Postal workers discussion forum. Discuss the day to day life in a Blue Shirt.
crooner1981
Posts: 26
Joined: 09 Apr 2009, 19:12
Gender: Male

Tax

Post by crooner1981 »

Just looking at this weeks wage slip I noticed my tax code has changed from 0759L CUM to 759L/0
Looking back it changed when the wage slips altered about a month or so ago so I assume this is correct.
If anyone could clarify much appreciated.
Jack of all trades, master of none.
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Cheetah
Posts: 428
Joined: 13 Oct 2009, 13:17
Gender: Male

Re: Tax

Post by Cheetah »

crooner1981 wrote:Just looking at this weeks wage slip I noticed my tax code has changed from 0759L CUM to 759L/0
Looking back it changed when the wage slips altered about a month or so ago so I assume this is correct.
If anyone could clarify much appreciated.
I don't think there is any difference as the numbers when multiplied by 10 signify the amount you can earn before you pay any tax i.e 759 x 10 = £7,590 per anum before tax is paid (obviously divided into 52 weeks). Any letters refer to the type of personal allowance to which you are entitled, L stands for basic allowance, not sure about the /0 though, but don't think it's too significant, at the end of the day if the numbers are the same the tax paid by you should be the same..... That's my understanding of it any how.......
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dwmc
Posts: 50
Joined: 18 Aug 2010, 05:06
Gender: Male

Re: Tax

Post by dwmc »

just the way the tax man says hello (L/O) BEFORE HE SHAFTS YOU FROM BEHIND :nana
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