HMRC Tax Codes

#1
For those of you who are being paid your pensions, check your tax code when you receive a Tax Coding Notice from HM Revenue and Customs - particularly if you started drawing your pension in the past year.

I got my Coding Notice through the post yesterday and my pension had the tax code D0 attached to it which meant I would have been paying 40% tax on it from April, instead of the correct amount.

After calling them, it turns out that I was wrongly assessed and that this is a common error caused by the introduction of the new IT system.

HMRC LINK

TIMES LINK
 
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