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taxadvisor.uk
taxadvisor.uk, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 4715
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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Is 555T I work part time and earn under

Customer Question

Hello ***** is 555T I work part time and earn under £10,000.00 per annum
what does this mean ?
Submitted: 1 year ago.
Category: Tax
Expert:  taxadvisor.uk replied 1 year ago.
Hello and welcome to the site. Thank you for your question.
Please advise if you have another employment or have just started work?
Many thanks
Customer: replied 1 year ago.
I have worked for the company for 4 years and it changed out of the blue. I don't have any other employment
Expert:  taxadvisor.uk replied 1 year ago.
Thank you for your reply.
The letter T in your tax code would be given when there may me other income the tax payer receives that has tax allowance against it. You state that this has changed out of the blue.implies it is a temporary code.
A tax code of 555T would mean you given a tax free allowance of £5555 against this income and the rest is taxed. As you say, this is a part-time job and you earn under £10,000pa. If this is your only income and you draw no pension or have income from other sources, then your tax code should be 1060L
My advice to you is to call HMRC and request they change it to reflect your circumstances. Their number is *****(###) ###-#### ***** have already said that you have tried to call and email HMRC.
Alternatively, you should complete the 2015-16 PAYE Coding Notice query here and submit it to HMRC..
https://online.hmrc.gov.uk/shortforms/form/P2?dept-name=&sub-dept-name=&location=43&origin=http://www.hmrc.gov.uk
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.

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