You might have recently received a new PAYE notice of coding. Over the next few months HMRC will be sending out new PAYE tax codes for the 2014/15 tax year.
HMRC are advising that some individuals may receive more than one coding especially if they have:
- two or more employments at the same time
- income from two or more pensions
- pension income and employment income.
HMRC may send a PAYE coding notice for each job or pension and the new tax codes will be used from 6 April 2014.
If you would like help checking your tax code please do get in touch so we can ensure you pay the correct amount of tax. It certainly helps any unexpected surprises when your employer hasn’t used the right tax code and you get landed with an unexpected tax bill.
Those individuals with more straightforward affairs may not receive a coding notice and their tax codes will be automatically updated, generally to reflect the increase in the personal allowance from the current £9,440 to £10,000.