Hi, I was made redundant in April this year had a net payout of £62,000 tax paid was £23,500 (40%)
I have 2 royal mail pensions on the go 1 with tax code D0. The other Tax code 1150.
Prior to the redundancy both pensions where taxed at the D0 tax code.
Pension 2 was giving me monthly refunds ! Tax to date is now down to £18550. Thought that I was odd paying tax on one pension and getting refund on the other.
Called my pension provided last week to enquire. They said that was the codes given from HMRC. Adviced to contact HMRC.
They informed me that the pension code was wrong it should have been D0 not s1150.and should not be getting monthly refunds , and he is changing my code to moth 01.
My questions are if I may ask are.
who is responsible error ( paying the under payment)
How does Moth01 work consider we are near the end of the tax.
Should l have bothered in contacting HMRC in the first place. Have I opened a can of worms for myself.
Thanks any advise or feedback would be appreciated
Paul
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