Tax Codes Links and recent issues

Tax codes links and recent issues

PAYE stands for Pay As You Earn. PAYE is HM Revenue and Customs’ (HMRC) system to collect Income Tax and National Insurance from employment. Your employer must operate PAYE as part of your payroll. Recent Tax Codes Links and recent issues in UK.

Each pay day, you receive your net pay after deduction of tax and national insurance and by the end of the tax year, you should have paid accurate amount of tax. The key to paying the right tax as an employee is having the right PAYE tax code so it is important to check that the tax code your employer uses is the right one for you.

Where your PAYE tax code comes from?

Your tax code is issued by HMRC. The tax code is used by your employer to work out how much tax to deduct from your pay under PAYE.

If you change jobs, the new employer should normally use the same code as your previous employer which is shown on the P45 (Details of employee leaving work). If you do not have a P45, then you need to fill up the starter checklist provided by your new employer, upon which they decide which PAYE code to use. It is important that the starter checklist is correctly completed or you could pay the wrong amount of tax.

If you think your tax code is wrong, you should contact HMRC and they will issue your employer with a revised tax code as required. You can do this on the Income Tax Helpline 0300 200 3300 (or via the HMRC contact us page).

Related:

Tax Helpline

HMRC Link

HMRC services: sign in or register: Register for HMRC online …

https://www.gov.uk/log-in-register-hmrc-online-services

Business and self-employed – GOV.UK

https://www.gov.uk/browse/business

Check employment status for tax – GOV.UK

https://www.gov.uk/guidance/check-employment-status-for-tax

Self Assessment: online services – GOV.UK

https://www.gov.uk/log-in-file-self-assessment-tax-return

Companies House link

Companies House – GOV.UK

https://www.gov.uk/government/organisations/companies-house

LINKS (LONDON) – Companies House

https://beta.companieshouse.gov.uk/company/02379173

LINKS HOMES – Companies House

https://beta.companieshouse.gov.uk/company/07245391

How we’re reforming the Companies House register …

https://companieshouse.blog.gov.uk/2019/06/11/how-were-reforming-the-companies-house-register/

Recent issues 

https://www.gov.uk/guidance/claim-for-wages-through-the-coronavirus-job-retention-scheme

Chancellor extends Self-Employment Support Scheme and …

https://www.gov.uk/government/news/chancellor-extends-self-employment-support-scheme-and-confirms-furlough-next-steps

https://www.gov.uk/guidance/apply-for-a-coronavirus-bounce-back-loan

https://www.gov.uk/guidance/apply-for-the-coronavirus-business-interruption-loan-scheme