*As soon as you list your business in directories and telephone books, register a limited company or otherwise publicise your business, it can generate an overwhelming amount of unsolicited mail and cold-calling. It has been possible for some time, to register a residential address and telephone number for the mail preference service and telephone preference service. Companies must check that the [read more]
Emergency Tax Codes*Occasionally, a new employee will start without a P45. An Employer must then use an emergency tax code. The emergency tax code is currently: 543L, although, from 7 September 2008 it will be 603L. Using this code usually means that the employee gets their basic personal allowance, but does not take into account any other [read more] |
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Other Tax Codes*Sometimes a tax code may have two letters and no numbers or be another combination: BR Code This code is commonly used where it is an employee’s second job and the all their personal allowances are used in the first/main job. All income earned under a BR tax code will be taxed at basic rate. D0 [read more] |
Common Tax Codes*L Codes Used for employees who are eligible for the basic personal tax allowance and also as an “emergency tax code”. This is the usual code for employee’s main (or only) job with straightforward tax affairs. P Codes Used for people aged 65-74 who are eligible for the full Personal Allowance. V Codes Used for people [read more] |
What is a Tax Code*A tax code is the short alphanumeric (eg. 543L) code that an employer uses to work out the correct tax to deduct from an employee’s gross pay. * |
