Hello, please help with this.
I registered a company for a business idea in 2013, which is not active at the moment (and has not been since last year neither have I earned a dime from it in almost 2 years). In Sept 2017, I started work as an employee for the first time in 3.5 years, as a bank staff in the NHS. I get paid weekly, earning around £11.20 p/h. Even though I am registered as a Bank staff in a different trust, I have never worked there making this pretty much my only job.
However, I noticed I was given the tax code: '56T CUMUL'. On a week's taxable pay of £414.48 for instance, total deductions show as £159.30 (PAYE £80.80, NI A £36, NHS Pension 9.3% £42.50). My payslip shows non-taxable pay as '0.00'. Does it look right? Does the '56T' make any sense? Please help.
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