PAYE Tax Codes for 2011-2012

PAYE Tax Codes for 2011-2012

February 10th 2011 3:06 pm

general

The new tax codes for the 2011/2012 tax year are being issued between January and March 2011. These will determine your allow ...

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The new tax codes for the 2011/2012 tax year are being issued between January and March 2011. These will determine your allowances and tax rates for the pay you receive between 6th April 2011 and 5th April 2012. Please make sure you check these tax coding notices for any errors - you can use our tax calculator. With the basic personal allowance for next year increasing from £6,475 to £7,475 the normal coding for under 65s will change from 647L to 747L. Due to the nature of the tapering of personal allowance, which are continuing into the new tax year, if you have income at or over £114,950 in 2011/12, you will have a zero personal allowance. Remember that personal allowances tapering is adjusted by looking at gross income earned within the tax year, but you can subtract payments made toward pensions, charity and losses. Try our UK Tax Calculators Wizard, it will allow you to enter all your income from differing sources and then calculate what your total tax liability will be. You can enter PAYE or personal pension contributions and see the effect on your taxation quite easily within it.

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