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TonyTax
TonyTax, Tax Consultant
Category: Tax
Satisfied Customers: 15946
Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
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, I've just received my new tax code today, which is 171L,

Customer Question

Hi, I've just received my new tax code today, which is 171L, last year it was 179P is this for better or worse.
Submitted: 2 years ago.
Category: Tax
Expert:  TonyTax replied 2 years ago.
Hi.

A 171L tax code means you have net personal allowances (tax free income for the current tax year) of £1,710 to £1,719. The L means you are entitled to the basic personal tax allowance.

A 179P code means you had net personal allowances (tax free income for the 2014/15 tax year) of £1,790 to £1,799. The P means you are pensioner aged 65 to 74 and eligible for the full personal allowance for your age.

If ylou are a 20% taxpayer, you will pay £16 more tax in 2015/16 than you did in 2014/15 (£1790 - £1710 x 20%).

Take a look at section 2 here for the 2015/16 personal allowances. There is information on tax codes here.

I hope this helps but let me know if you have any further questions.
TonyTax and other Tax Specialists are ready to help you
Customer: replied 2 years ago.

Hi, It states in the coding notice that if your total income is less than £27820 that I was to let you know, my total income with state pension and private pensions is £12893 how do I stand.

Expert:  TonyTax replied 2 years ago.
Can you tell me what is in the tax code in terms of allowances and deductions please.
Customer: replied 2 years ago.

don't understand the question

Expert:  TonyTax replied 2 years ago.
As your income is less then £27,820, there is no reduction in your basic personal allowance of £10,600.
Customer: replied 2 years ago.

Thank you for your help

Expert:  TonyTax replied 2 years ago.
Thanks.
Customer: replied 2 years ago.

Hi, I didn't realise it was a membership plan,it isn't what I wanted, I would like to close the plan. Thank you.

Expert:  TonyTax replied 2 years ago.
OK.

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