Coding out tax underpayments to £3,000

News: January 2012

Coding out tax underpayments to £3,000

If you have tax to pay between £2,000 to £3,000, the latter is the new limit for having the tax collected by reducing your 2012/13 Code Number as an employee, rather than paying it all in one go by 31 January 2012.

We have now been told that the £3,000 limit can apply even though the 2010/11 tax return suggests that £2,000 is still the limit. To take advantage we have to advise HMRC on your behalf by 30 December 2011 and we will make sure we do just that, unless you prefer to pay the tax in one go.

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