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Where Taxpayers and Advisers Meet

Tax code calculation

OwenH
Posts: 1
Joined: Thu Feb 09, 2017 5:35 pm

Tax code calculation

Postby OwenH » Thu Feb 09, 2017 5:45 pm

Hi to anyone who might offer advice,

Today I received my new tax code for 2017-18 and I was alarmed to see that this includes an Underpayment Restriction of £2751. In addition there is an Outstanding Debt Restriction of £462. I have no idea how my tax has been under payed because it is taken directly from source by my employer. I seem to remember some outstanding amount of a couple of hundred pounds last year but that was meant to have been recovered in last years tax payments.
Can anyone advise me the best course of action to take to discover the source of this money 'owed'? I have telephoned HMRC several times and each time, after a lengthy to and fro with an automated system, I am informed that all their advisers are busy and the call is then terminated.

Any help would be greatly appreciated.

Regards,

Owen H

AmanSood
Posts: 215
Joined: Mon Jan 09, 2017 4:12 pm

Re: Tax code calculation

Postby AmanSood » Fri Feb 10, 2017 8:14 am

Hi, without actually reviewing your total earnings in each of the last few tax years, its impossible to work out whether your tax code is correct and calling HMRC as you have found is unlikely to help. Only option would be to get an advisor to review the position but you would have to weigh up the cost of this vs the potential tax saving if indeed your tax code is incorrect.
Advising on UK employment, expatriate and personal taxes
aman.sood@e-taxconsulting.com.
+44 (0) 207 846 0155


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