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Where Taxpayers and Advisers Meet

56T CUMUL tax code?

Nzekells
Posts:1
Joined:Mon Jan 08, 2018 9:56 pm
56T CUMUL tax code?

Postby Nzekells » Mon Jan 08, 2018 10:24 pm

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.

robbob
Posts:3228
Joined:Wed Aug 06, 2008 4:01 pm

Re: 56T CUMUL tax code?

Postby robbob » Tue Jan 09, 2018 9:48 am

That sounds wrong - best to ring hmrc and advise this is your only job with details of other income since 6/4/17 and they will correct your tax code to the correct one - its hard to be sure as there could be any numbers of reasons for any code issu d- also best to discuss what makes up your tax code to ensure there is nothing in there that needs removing - eg if potential income streams have been coded out.


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