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tax code help

gsauny21gsauny21 Settling In NicelyRegistered Posts: 16
Hi all,

im in the process if completing a self assessment for a client and came across something i havent seen before. on the P60 of a private pension my client receives, the final tax code is 781T. can anyone shed some light on this code and how i adjust for this on SA as the tax liability to my client looks a little high. My client has business income and one other private pension too, if that helps.

Thanks in advance.....

Comments

  • MonsoonMonsoon Font Of All Knowledge FMAAT, AAT Licensed Accountant Posts: 4,071
    A 'T' suffix means "HMRC aren't really sure."

    I would phone HMRC and ask what items were put in the tax code and therefore what needs to go on the relevant boxes in the SA100.
  • zara5034zara5034 Well-Known Registered Posts: 170
    Monsoon, I know you're far more experienced than me and I'm only looking at this from a payroll perspective rather than a SA one, but I thought the "T" suffix just meant that the code doesn't get uplifted after year end as the "L" codes do?
  • MonsoonMonsoon Font Of All Knowledge FMAAT, AAT Licensed Accountant Posts: 4,071
    Heh, I'm not that experienced on PAYE. That's what I was told - I could well be wrong!
  • gsauny21gsauny21 Settling In Nicely Registered Posts: 16
    Thanks for your help guys, I will contact HMRC just to see if i can get clarity before I go any further.....
  • babsababsa Well-Known Registered Posts: 118
    I know this an old post but the T code is when you split your tax code between 2 jobs, so for example you earn £6000 at one job and £4000 at your second job you can split the code instead of 1000L it'll be 600L and 400T.
    I was wondering if 25Y is bigger than 46Y? I know the Y as something to do with being over 75.
    Can you shed any light on this?
    Thanks in advance.
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