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taxadvisor.uk
taxadvisor.uk, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 4996
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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my age will be 75 yrs on the 11th april, I only get 13thousand

Resolved Question:

my age will be 75 yrs on the 11th april, I only get 13thousand 140 pounds and70 pence per annum and not 27700 so is my tax code right please
Submitted: 2 years ago.
Category: Tax
Expert:  taxadvisor.uk replied 2 years ago.
Hello and welcome to the site. Thank you for your question.

Please advise what your tax code is.

We are not linked to HMRC but if you give me the relevant information I will check it for you.

Many thanks
Customer: replied 2 years ago.

my tax code is 144l

Expert:  taxadvisor.uk replied 2 years ago.

Margaret, thank you for your reply.

You say you are going to be 75 on 11 Apr 2015.
I take it you are born between 6 Apr 1938 and 5 Apr 1948.

144L means you can earn £1440 additional to your sate pension before you would be taxed as state pension although taxable is paid gross.
If £13,140 is total income from all sources e.g state pension, pension from previous employers etc then the first £10,600 would be tax free as it is covered by your personal allowance and you would pay tax on the balance at 20%.

Please advise your income by source.
Have you received any correspondence from HMRC giving you a breakdown of your tax code.

Please advise.

Many thanks

Customer: replied 2 years ago.

hi Sam

yes the letter say my personal allowance is 10600 pounds of which they take9151 pounds which leaves 1449 pounds which they send to NHSpensionsw but I alsoget a pension from scotish widows and I get half of my late husbands works pension

Expert:  taxadvisor.uk replied 2 years ago.

Margaret, thank you for your reply. It is addressed to another expert.

You appear to have put your question twice

Would you like me to continue with your question.
Please advise,

Customer: replied 2 years ago.

hi sam

yes please

its just that it said to let them know if I earned less than 27700 pounds. and I don't earn anything like that.. I am so confused

Expert:  taxadvisor.uk replied 2 years ago.

Margaret, thank you for your reply.

Basiccally, you get a personal allowance of £10,600.

As your pension takes £9,441 of this allowance, the balance of £1,449 is available against other pensions. So £1,449 of your NHS penison would be tax free and the rest would attract tax at 20%.

Additionally, if you have any other pension as outlined by you, this would also attract tax at 20%.

You would only start to lose your higher personal allowance if your total income exceeded £27,700 in the tax year.

Your original question was - "my age will be 75 yrs on the 11th april, I only get 13thousand 140 pounds and70 pence per annum and not 27700 so is my tax code right please".

Based on what you have stated, your income would be less than £27,700. So it would appear you have the correct tax code.

I hope this is helpful and answers your question.

If you have any other questions, please ask me before you rate my service – I’ll be happy to respond.

Customer: replied 2 years ago.

hi sam

thankyou very much .

I feel much better now, even though I must have got on to some one else at the same time as you and it cost me 36 pounds

Expert:  taxadvisor.uk replied 2 years ago.

Margaret, thank you for your reply.

I amCustomerwho has given you the answer.

If you are happy and there are no more issues I will appreciate if you would kindly rate/accept the service I provided to ensure I get credited for it.

taxadvisor.uk and other Tax Specialists are ready to help you
Expert:  taxadvisor.uk replied 2 years ago.
I thank you for accepting my answer.

Best wishes.