new tax code issued with T at end

[Bumfluff]

Just got a new tax code notice, noticed it had a T at the end, googled it and say it means tax inspector review, iv had nothing about questioning my returns, should i be worried could this be start of ir35 review ?

[northernladuk]

Just got a new tax code notice, noticed it had a T at the end, googled it and say it means tax inspector review, iv had nothing about questioning my returns, should i be worried could this be start of ir35 review ?

You need to give us a little more information than that. When it says review does it not mean review your code not have a full tax inspection which is more likely (but still extremely slim) to lead to an IR35 review.

Looking at some of the posts about running accounts recently I would think more people should be just as worried of a normal tax review as they are an IR35 one.

[Greg@CapitalCity]

should i be worried could this be start of ir35 review ?

In all likelihood no. Any review of your tax code will most likely be a review of your personal tax affairs. Do you earn a large amount of money? Have you worked through an offshore scheme?

With the multifaceted tax audits you can get these days, this may lead to some questions about IR35, but I have never heard of a T tax code being a pre-cursor to an IR35 investigation in itself.

[ddaft]

I think one scenario the T is used is when you fall under the recent over 100k personal allowance reduction rule.

[Bumfluff]

I think one scenario the T is used is when you fall under the recent over 100k personal allowance reduction rule.

Re-reading the letter they do state they estmate my income for 11 12 will be over that limit, last year i kept it just under. Does the fact there is a T then mean someone will be manually looking at returns? Im not worried if they do but interested to know if exceeding or comming close to the 100k limit means a closer eye is kept on you ?

[Martin at NixonWilliams]

Just got a new tax code notice, noticed it had a T at the end, googled it and say it means tax inspector review, iv had nothing about questioning my returns, should i be worried could this be start of ir35 review ?

Hi

A 'T' tax code symbolises that your tax code is temporary and there are possibly items in your tax code that need to be reviewed to ensure they are correct.

The most common item for review, as another poster said, is the income-related reduction to the Personal Allowance if your income exceeds £100,000.

I hope this helps

Martin

[ddaft]

I had one in the last tax year and my tax return sailed through if that makes you feel any safer :-)

I gave HMRC a call a few months back and told them that I wasnt expecting to be over the threshold this tax year and they adjusted it pretty quickly and i'm back on an 'L' code again now.

[Bumfluff]

I had one in the last tax year and my tax return sailed through if that makes you feel any safer :-)

I gave HMRC a call a few months back and told them that I wasnt expecting to be over the threshold this tax year and they adjusted it pretty quickly and i'm back on an 'L' code again now.

Thanks for the info thats good to know, my T code must be for the same reason.