Keepers Accountancy's Blog

Emergency Tax Codes

  

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If your tax code is wrong, you could end up paying too much or too little tax. To check your Tax Code, the best place to start is to look at other information on the coding notice. Do they have your name, National Insurance number and address correct? The notice will also state: ‘You need a tax code so (your employer) can work out how much tax to take off.’ If you no longer work for that employer, something is wrong. 

There is also one other way that you can see if your tax code may be wrong; if it includes ‘647L M1’, check with your Accountant to ensure that it isn’t an emergency tax code.

To change your tax code, the easiest way is to send a P60 to the tax office, and ask for tax to be checked. Phoning your local tax office is also a good way to resolve the situation.

You can apply online for an emergency tax refund, at http://www.taxfix.co.uk/claim/4.php

Related Resources:

Have I Paid Too Much Or Too Little Tax?

Keepers 57 Tax Tips

Advice For UK Taxpayers Regarding PAYE Letters From HMRC