How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Sam Your Own Question
Sam
Sam, Accountant
Category: Tax
Satisfied Customers: 13868
Experience:  26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
16196420
Type Your Tax Question Here...
Sam is online now

My Tax Code /16 has been calculated at K784. Personal

Resolved Question:

My Tax Code for 2015/16 has been calculated at K784.
Personal Allowance £10,600
Adjustment to Tax Rate Band is a figure of minus 13902
Underpayment Restriction is a figure of minus 4550
HMRC tell me I owe £910.00 but this is because of an error they made and so I am not obliged to repay it. I have a letter from their CEO admitting the error.
My gross PHI income from my employer is 4793.88 a month
I pay 68.18 into my pension per month
I receive 6815.64 per annum in ESA allowance (now taxable)
How much net income am I going to receive from my employers PHI? The current net amount is £3136.50
Thank you
Submitted: 2 years ago.
Category: Tax
Expert:  Sam replied 2 years ago.

Hi

Thhaankks for your question - I am Sam and I am one of the UK tax experts here on Just Answer.

On this current code of K784 this will require an additional £654 of income to be added onto your gross salary (less pension contribution) so a total income of £5379 per month of which the first £2605 at 20% = £521.00 and the remaining £ 2774 at 40% = £1109.60 so total tax of £1630.60 which leaves you £3095.10 take home pay.

( so £41.40 less a month than you take home now )

Let me know if you wish me to expand on this information provided

Thanks

Sam

Thanks

Sam

Customer: replied 2 years ago.
Should I dispute the underpaid amount of £910.00?
Expert:  Sam replied 2 years ago.

Hi Lindsay

Thanks for your response

Not as this stage as the computer has to automatically calculate the potential underpayment just because the tax code has decreased, so only appeal this when the tax codes for the following year come out (IF this is then carried forward for collection in error)

Thanks

Sam

Sam and other Tax Specialists are ready to help you

Related Tax Questions