I've just got a notification of my tax code (changed jobs) and I've looked on the gov.uk site but I suspect that the tax code is wrong but I cannot work out how to fix it.
HMRC estimates that I will pay 80K in tax via PAYE (actually it was originally much higher but they'd estimated my income about 100K too much!) but I estimate that I should pay closer to 90K. (Actually exactly how much tax I will pay is dependent on a (financial) year end bonus from my new employer - and I have no history to estimate that - but this year I think this doesn't make much difference as my annual allowance will have tapered down to 10K even without the bonus.
The only thing I can see is that they've given me 16136 in persional pension relief but I don't think I should get any. This year my employer contributions into my pension will use up my annual allowance. Fixing this would (I think) increase my PAYE tax by about 8K which is close enough.
But as far as I can see on the online site there's no way to change the amount of pension relief. Am I missing something obvious? I can increase the estimated salary which will increase their estimated PAYE figure but unless I actually earn the estimate then I won't pay the tax, so that's not the right way to tweak things.
It's not a huge problem - I'm going to have a 10K ish bill to pay in January due I think to similar problems last year which is why I double checked it today after getting my new tax code - but up until two years ago the tax man had always owed me 5K ish (usually due to large last minute additional pension contributions) and now suddenly it's switched to me owing the taxman but it doesn't seem to be fixing itself. I don't know why they would give me anything more than 10K pension relief given the estimated salary that they've got.
Do I have to call them to change the pension relief figure or should I be able to do it online?
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