Tax code

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
Hi,
I would like to ask, what is cumulative Tax code?
Thanks
Riaz

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Tax code

    2006/07 = 503L

    Regards

    Dean
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Tax code

    Hi
    Thank you Dean I do appreciate for your help.
    Regards
    Riaz
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Tax code

    Hi Riaz,

    Cumulative tax code is calculated by first looking at what the employee owed for the year to date as a whole. Then this is compared with what they had paid so far. (P45 from previous employer in the same tax year).

    Debs
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Tax code

    Hi Debbie,
    Thank you for your detail information regarding Tax code. I was not exactly clear what cumulative tax code is and if we don't use cumulative tax code which code is then, is it 1st month 1st week code bases please write me soon. Thanks once again.
    With Best Regards
    Riaz
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Tax code

    Hi Riaz,

    If we don't use culumative tax code then we would use non-cumulative tax code week 1/month 1. Which means that the pay adjustment tables for week or month 1 would be used.

    I hope that helps.

    Debs
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Tax code

    Hi Debs
    I am so grateful for your help thank you so much I really appreciate for that.
    Best Regards
    Riaz

Categories

Privacy Policy