Tax Rebates & Refunds

Do you have more than one tax code?

February 27, 2013
Posted in Income Tax — Written by Geoffrey

Most people who are employed have one tax code. This code tells HMRC how your tax should be calculated by indicating which rate you should be paying and what your Personal Allowance is. However, some people can have more than one tax code.

Situations in which you might have more than one tax code include the following:

• You have more than one job at the same time
• You have income from a pension and a job at the same time
• You have income from two or more pensions at the same time

How will I know if I have two tax codes?

People with one tax code will see it printed on their payslips and may also receive one PAYE Coding Notice – a document telling you how your tax was worked out – from HM Revenue & Customs (HMRC). If you receive more than one PAYE Coding Notice from HMRC and the tax code on each is different, it most likely means you have more than one tax code and that each notice is for a different job or pension.

What to do if your tax codes are wrong

If you only have one job or one pension at a time, you should only have one tax code. If you have two, or you spot any other problems on your PAYE Coding Notice, you should inform HMRC immediately. It could be that you are due a substantial tax rebate.

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