PAYE Notification Query

[BnT Jason]

Hector has given me a D0 tax notification with an 'X' in the 1 week / 1 month notification.
The impact of which is 40% deduction for tax every month. I'll probably hit the the 40% with Dividends for the current tax year once dividends are added but only marginal.

Basically Director/Employee of my company. The PAYE hit will be approx. 3600 per year which in effect is taken and not to be rebated for probably 9 months after the year end.

This creates a blackhole in my finances somewhat.... Do I have any options in getting this to be changed?

P.S. Bonus to the first person who says discuss with accountant....

[NotAllThere]

You can apply to have your coding changed. Hector probably thinks that yours is a second employment.

Ask your accountant about it.

[Clare@InTouch]

As NaT says you can apply to get it changed, just call HMRC directly and explain the situation to them.

HMRC Contact us

[BnT Jason]

Thanks for responding..... Willl call tomorrow to see if I can resolve this, and will enjoy the 30 minutes on hold before I speak to someone......

Probablly won't be able to change before this months PAYE submission though as I assume that they'll need to send through a notification to change the code. As the employer I cannot ignore the current notification for processing PAYE can I?

Nice to know it could well be sorted.

Cheers J.