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Where Taxpayers and Advisers Meet

Personal allowance/BR code on pension

GP1
Posts:1
Joined:Wed Jun 23, 2021 9:38 pm
Personal allowance/BR code on pension

Postby GP1 » Wed Jun 23, 2021 9:51 pm

Hi,
I stopped working in month 9 and took my pension from month 10. The BR code has been applied since month 10 to my pension income.
Am I right in thinking that the personal allowance code (1275) should be applied to my pension (only source of income) from month 10 - and not the BR code please ?? Thanks.

Jholm
Posts:201
Joined:Mon Mar 11, 2019 4:22 pm

Re: Personal allowance/BR code on pension

Postby Jholm » Thu Jun 24, 2021 4:41 pm

Most likely, yes. Generally BR is used where a basic rate taxpayer has a secondary source of income and their full personal allowance already accounted for.

Tax coding issues are easily sorted by contacting HMRC.

However, since you refer to month 10, it suggests you are talking about the previous tax year. If that is the case, the tax year will soon be reconciled and an overpayment (if there is actually one), will be repaid.


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