Tax code 269L

[ladymuck]

I didn't know that, top tip, thank you. My accountant always held the position there was no benefit to putting a car through the company and that just claiming mileage was the best way forward. All my research has supported that position. Shame the OP didn't ask for advice before purchasing a car through their company.

The only way it wouldn't be treated as a BIK is if you can justifiably claim that all journeys are 100% business with absolutely no personal travel. Easier if it's a white van with "Acme Tape Exchange Ltd" emblazoned on the side, harder to do if it's a Jag Type R.

[chopper]

Car BIK will automatically be collected by HMRC through your tax code once they are notified about it, there isn't an option to not do it this way. Which is why you weren't asked.

[Lance]

Yes (filed by accountant not seen by me). The tax code changed in August so it is because of the P11d.

It's swings and roundabouts as to whether I pay at the end of the year (which I was expecting) vs as I go through PAYE at source.

I'd be having words with the accountant about submitting things you haven't seen. It's a bit naughty IMO.

[ladymuck]

Why do you not see anything that your accountant submits in your name? You do know you are ultimately responsible for it and it's you who pays if there is an error?

[Jog On]

was the car on your P11d?

Yes (filed by accountant not seen by me). The tax code changed in August so it is because of the P11d.

It's swings and roundabouts as to whether I pay at the end of the year (which I was expecting) vs as I go through PAYE at source.

[Lance]

was the car on your P11d?

[Jog On]

Did you check it or just assumed it was correct because you'd paid someone?

Check what? I haven't seen nor heard nor smelt any form of any kind from my accountant. It went like this:

I get car
I tell accountant
I receive payslip with new tax code
I phone HMRC
They tell me I'm on PAYG BIK

Again I haven't seen any forms of any kind since taking out the car agreement. Any form filling has been done by accountant without any input from me.

[ladymuck]

I haven't filled out an SAR or anything since getting the car. My accountants have though...

Did you check it or just assumed it was correct because you'd paid someone?

[Jog On]

There's a box you tick (or untick, can't remember which way round) on your SAR about whether you want tax due to be collected via PAYE or not. Looks like you didn't check this

I haven't filled out an SAR or anything since getting the car. My accountants have though...

[ladymuck]

There's a box you tick (or untick, can't remember which way round) on your SAR about whether you want tax due to be collected via PAYE or not. Looks like you didn't check this

[Jog On]

You bought a new shiny car through your company and didnt anticipate a big BIK bill!?

Yes - after I'd filled out a tax return about this time next year. Not as I go along taken through my tax code. It would have been nice if they'd at least asked me if I wanted to do it that way.

[washed up contractor]

I just called them and it's 'pay as you go' BIK for my shiny company car.

You bought a new shiny car through your company and didnt anticipate a big BIK bill!?

[Jog On]

It's possibly karma, mine has gone up to 2150L, so yours is just to keep the universe in balance

I just called them and it's 'pay as you go' BIK for my shiny company car.

[WTFH]

On my most recent payslip from my accountant my tax code has changed to 269L - giving me a tax free allowance of £2690....

This is a big drop from previous years - has anyone else had this?

It's possibly karma, mine has gone up to 2150L, so yours is just to keep the universe in balance

[Jog On]

On my most recent payslip from my accountant my tax code has changed to 269L - giving me a tax free allowance of £2690....

This is a big drop from previous years - has anyone else had this?