New Tax Code

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Jessica@WhiteFieldTax replied

2 June 2017, 17:10
It's frustrating nonsense.

I know it causes worry, but either call them or get your accountant to, and get it changed.

But long story short, don't worry about it. The Self Assessment when submitted overrides this. Even if you are not in SA you can still do the calculation and submit a return if necessary.

Breath, and try not to worry about it.
Leave a comment:
VectraMan replied

2 June 2017, 16:16
I had one like that. Nothing to do with IR35 as far as I know. When I phoned they told me they'd estimated I was going to earn £120K in the remaining 4 months of the tax year. I told them I really really wasn't and it was sorted out.

There's an online form you can fill out rather than phoning.
Leave a comment:
northernladuk replied

2 June 2017, 15:56
Originally posted by NetContractor View Post

You taking the piss?
I might be inside IR35 but MY COMPANY is still my employer.

Hee hee... but you aren't employed by your company... but that's another matter. Can't find anything but those pages that relate to that figure.
Leave a comment:
NetContractor replied

2 June 2017, 15:52
Originally posted by northernladuk View Post

Have you asked your employer?

You taking the piss?
I might be inside IR35 but MY COMPANY is still my employer. You mean the agency?

I just received this letter as I got home tonight. I have emailed it to my accountant, but looks like they won't get back to me until Monday. It would appear HMRC think I a. earn a lot more than i do, and b. a still earning my "contractor income" on top of working for the PSC.

Looks like more IR35 bollocks.
Leave a comment:
northernladuk replied

2 June 2017, 15:49
Have you asked your employer?

Numbers seem to be in line with these articles..

http://www.icalculator.info/salary-i...on/251250.html
Leave a comment:
NetContractor started a topic New Tax Code

2 June 2017, 15:48
New Tax Code

I am a contractor. I have been caught by IR35 for my PSC client as of 5th April.

I have just received this letter....
Of the 2 lines I (blanked) out, the top one is my company name. and the bottom one is my agency.

Does anyone understand this? I have no idea where £251250 came from or £18743.01. WTF?
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