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PAYE problems with Dynamic Coding

As part of HMRC’s agenda for Making Tax Digital, a dynamic coding system for PAYE has been in place since July 2017 but teething problems are causing some taxpayers issues. Dynamic Coding was introduced to speed up the collection of tax via PAYE code adjustments. This is made possible by HMRC making use of real time information submissions, so that changes in earnings are recognised before the end of the tax year, which should help to reduce tax underpayments. However, it seems in some cases that adjustments to collect underpayments were made to both the 2017/18 and the 2018/19 PAYE codes in error. Activate your PTA! HMRC enables taxpayers to view the data they hold on them via their Pers

Which Life Events May Affect Your Taxes?

As you go through life your circumstances will change and often these will have an impact on either your tax obligations, or the reliefs you are entitled to. It is therefore important to review your taxable status on a regular basis and in particular if any of the changes shown here relate to your own personal circumstances. Getting Married Whilst you are unlikely to marry someone solely to save taxes, getting married can often result in a welcoming tax break! The Marriage Allowance allows you to transfer £1,190 of your Personal Allowance to your husband, wife or civil partner if they earn more than you but pay tax at the basic rate. To benefit, the lower earner must have an income of £11

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