tax code help?
So i have just started a new job, i know nothing about taxes and what it means at all. I work 2 jobs and they're both part time. One is 8 hours and one is 22.5 hours. Should i be getting taxed a lot? my tax codes are 540L (22.5 hours) and 517T (8 hours). can someone please help me do i need to drop my 8 hour job?
Reply 1
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Original post
by xoanonxoSo i have just started a new job, i know nothing about taxes and what it means at all. I work 2 jobs and they're both part time. One is 8 hours and one is 22.5 hours. Should i be getting taxed a lot? my tax codes are 540L (22.5 hours) and 517T (8 hours). can someone please help me do i need to drop my 8 hour job?
The standard personal allowance for 2024/25 is £12570, which equates to a tax code of 1257L.
It's a bit odd that your tax codes add to 1057 and not to 1257 -- which either means that you also have a £2000-a-year income that is taxable but being paid without the deduction of tax; or that HMRC have made a mistake in issuing those codes.
You might want to double-check that those are the codes appearing on your pay slips. If they are (and you don't have this other taxable-but-paid-without-being-taxed £2000-a-year income) then it would be best to check with HMRC that they haven't made a mistake.
Ideally HMRC will have split the codes in such a way as to ensure that you don't overpay tax.
Reply 2
xoanonxo
OP
3
I still don’t really understand you as I’m bad at understanding to do with taxes. But I do have information I spoke to them and they said word for word:
‘ Your tax code 1257L was on your (company name) income so when you started with NHS BR tax code was applied as it was a secondary income, I will split your 1257L between both incomes.’
‘have now amended your tax codes so on your NHS you have a 740L and on your (company name) is 517T these should reach your employer within 48hrs to 10 working days, once applied if you have overpaid any tax you will be refunded into your next pay once new tax code applied
‘ Your tax code 1257L was on your (company name) income so when you started with NHS BR tax code was applied as it was a secondary income, I will split your 1257L between both incomes.’
‘have now amended your tax codes so on your NHS you have a 740L and on your (company name) is 517T these should reach your employer within 48hrs to 10 working days, once applied if you have overpaid any tax you will be refunded into your next pay once new tax code applied
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