Is your Tax Code Suddenly Beyond Understanding?
HMRC are sometimes in the position where the right hand does not know what the left hand is doing.
Many people have employed income, as well as, income from other sources such as property, investments, sole trades, pensions, etc. Such people are in the self-assessment system, subject to payments on account and tax finalisation for each tax year.
HMRC will quite often attempt to recover tax on such other income through the PAYE tax code without recognising that payments on account for tax arising as already in place. Therefore you may well be paying tax TWICE.
So, if your tax code has something that you don’t understand. Please get in touch.
You may well be paying too much PAYE tax. This can be challenged and corrected. So once again if your tax code in undecipherable please give us a call.