Tax code

[BOND]

Hi I started my business last year. I am doing my PAYE myself I am the only director in the company.I pay myself salary only once in a year. Last Year I received a Tax code for 2008-09. However I did not receive any tax code for the year 2009-2010. I called HMRC but could not connect. Should I assume my tax code would be 647L as I do not have any other income?

 

[elaine@cheapaccounting]

HI pay myself salary only once in a year

why?


You may not necessarily receive a tax code - if you don't you follow HMRC guidance on what to do in this situation as an employer.

 

[Jenni384]

They only issue a coding notice when it needs to change (or if their computers make a mistake, as happened ad nauseum this year! ).

Your tax code will remain the same, subject to any annual changes in tax codes (as Elaine says, it's in the guidance). As the personal allowance isn't changing for 2010-11, 647L will remain the standard tax code.