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bigduckontax, Accountant
Category: Tax
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National insurance number - ************** we have noted our

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national insurance number - **************

we have noted our tax code for the year 2017/2018 was changed fromS444 to S137T. we understand this means we pay no tax on this annuity. As our income has not changed in any appreciable way since retirement 22 years past we are at a loss to understand this change.Because of this unforeseen change the Revenue are reclaiming monies for non payment of tax of which we were not notified of any change can you please these changes.

Submitted: 10 months ago.
Category: Tax
Expert:  bigduckontax replied 10 months ago.

Hello, I am one of the experts on Just Answer and pleased to be able to help you with your question.

The S indicates that you are resident in Scotland where rates of tax can differ to those imposed in England. The reduction in the numbers indicates that HMRC are using your tax code to recover tax due on income not taxed at source, or to recover un-psid tax from earlier years. Annuities frequently are taxable payments. It should all come out in the wash so to speak when you self assess at the end of the tax year, that istoday.

Just Answer is an independent tax advice site not connected with HMRC in any way.