Tax Code (UK)?

I%26#039;ve just returned to part-time work (20hrs per week - 鎷?500 per annum) after being at home with my children for the last 5 years. I%26#039;ve been in receipt of Working Family Tax Credits with my partner for the last 3 years, but my partner has now left so I will be claiming this as a single parent.

I spoke with the Payroll girl at work today and she said she%26#039;d just put me on the standard tax code, 533L I think - but as a part-time worker and single mother claiming tax credits, will I not be on a lower tax bracket to full-time workers?

Tax Code (UK)?

I dont know where your employer has got code 533L as you should be on 522L, which is the basic personal allowance. Your tax credits are not taxable, so they wont affect your code number and there is no additional allowance for being a single mother, so 522L would be correct.

Tax Code (UK)?

Phone the tax office they will tell you over the phone, but yes i would think you should be on a lower tax code

Tax Code (UK)?

your already on a lower tax bracket to me and most people.

461L for me...

Tax Code (UK)?

Hand in your P45 to your employer and the tax office will send out the correct code, if you don%26#039;t have a recent P45 ask your employer to fill out a P46 and send it in, this way you will have the right code from the tax office.

Your employer can%26#039;t change your code other than by these methods.

Tax Code (UK)?

The Lower Tax Band you refer to, relates to the amount of %26quot;taxable pay%26quot; you receive per annum. For 2007/08 the first 鎷?150 will be taxed at 10%,then the next 鎷?1,150 at 22%.

If your tax code is correct, which at 533L it probably is, this means that you are entitled to earn 鎷?330 before you pay tax, leaving you with 鎷?170 %26quot;taxable pay%26quot;

鎷?150 of this is taxable at 10% (鎷?15), and 鎷?0 at 22% (鎷?.40).

These figures are correct for a FULL YEAR%26#039;s income of 鎷?500.

The MAIN thing with PAYE tax, is to ensure that the code your employer is using is the correct one, this can be checked by contacting your main tax office.

It is the Tax Code that will determine how much tax is deducted, irrelevant of what your circumstances are, but in saying that, it is true that if we both have a code of 533L, but you earn 鎷?500 and I earn 鎷?5000, then you will pay less tax than me (and National Insurance).