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The Finance Thread


Devon Malcolm

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7 hours ago, Silky Kisser said:

Your tax allowance is generally split equally over the 12 months or 52 weeks (depending on how you're paid) of the year. Purely for the reason so  that you don't not pay anything early in the year and get hammered at the end. 

If this is your only job and you don't have any additional expense allowances or deductions your code should be something like 1257L (may not be 100% accurate as I haven't worked PAYE for some time) 

I'd get back on the phone and explain this is your only job. HMRC may have missing employment info for you which is why they haven't been able to issue you a cumulative code. 

When leaving jobs, always get your P45 ASAP and hand it in to your new place. It's the best way to ensure your info is upto date and you don't get stung. 

Cheers mate, I understand that a lot more from what you've read. U've somehow not clocked that's how personal allowance works til now. When I first rang up they seemed to think I had a second job which I corrected them on so that's a good sign. I'll ring again to make sure all's in order.

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