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TonyTax
TonyTax, Tax Consultant
Category: Tax
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Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
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I have recently started a full time job on minimum wage. I

Resolved Question:

I have recently started a full time job on minimum wage. I am in receipt of a Civil Service Pension as I was made redundant in October 2014. My tax code at the moment is emergency tax - BR - I understand this is due me taking my pension early. I have contacted both MCSP and my new employer - they have asked me to talk to yourselves. I have tried to ring the last two days and have not been able to talk to anyone.. My CSP have informed me that my tax code should be 1060L and explained I may be on emergency tax at 20% as my pension my not be informed and therefore is being classed as having two jobs which I don't have ? Please can you clarify this for me and explain why I have been put on emergency tax. Earning minimum wage is low enough without being heavily taxed.
Thank you for your help.
Regards.
Jackie Macarthy
NI NO YZ860851C
Date of birth
12.03.56
Post code S80 1NA
Submitted: 1 year ago.
Category: Tax
Expert:  TonyTax replied 1 year ago.
Hi.

This site has no connection with HM Revenue & Customs. I may be able to answer your question but before I do would you please confirm that you wish me to go ahead. Alternatively, you can have a refund of your deposit.

If you wish me to go ahead, please tell me how much your Civil Service pension is before tax annually. What tax code is being used against your pension?
Customer: replied 1 year ago.

My pension is £10,289 ..£960.58 received monthly ..tax code for this year is 1060 L .

Regards

Jackie

Expert:  TonyTax replied 1 year ago.
iThanks.

Leave ths with me while I draft my answer.
Customer: replied 1 year ago.

Okay ..I await your reply ..Thank you

Expert:  TonyTax replied 1 year ago.
Thanks.

You say your pension is £10,289. However, you receive £960.58 monthly which adds up to £11,527. Can you clarify please.
Customer: replied 1 year ago.

Sorry that will be the correct amount 11,527 ..

Expert:  TonyTax replied 1 year ago.

Thanks for the clarification.

If you have a tax code of 1060L on your pension, that is correct and you will be paying about £15.45 per month in tax on that source of income.

The BR (Basic Rate) code on your wages is also correct. You will be paying tax at 20% on that income. A BR code is not an emergency code in your case. You only get one personal allowance of £10,600 in any one tax year and that is being used against your pension.

If you don't have a tax code of 1060L being used against your pension, call the tax office on the number here and ask them to review your pension and job tax codes while you on the phone. They will amend both tax codes if necessary but from what you have told me, I think everything is as it should be.

I hope this helps but let me know if you have any further questions.

TonyTax, Tax Consultant
Category: Tax
Satisfied Customers: 15753
Experience: Inc Tax, CGT, Corp Tax, IHT, VAT.
TonyTax and other Tax Specialists are ready to help you
Expert:  TonyTax replied 1 year ago.
Hi again.

It's been a few days since I answered your question. Is there anything you need further clarification on?

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