Tax codes - 503L
23-11-2006, 08:51 AM
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Tax codes - 503L
Anyone on 503L?? im on it, and the HM Revenue and Customs site is really contradictory!!!
One paragraph says emergency tax code, and another one says its right???
One paragraph says emergency tax code, and another one says its right???
23-11-2006, 08:55 AM
#2
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503L here for me also
Then again, I got a letter from customs and excise about a shortfall in my national insurence payments for the year 2004 to 2005
- seems a LOT of people have received the same letter 
Then again, I got a letter from customs and excise about a shortfall in my national insurence payments for the year 2004 to 2005
- seems a LOT of people have received the same letter
23-11-2006, 08:55 AM
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Im on 503L mate, got a form from the tax man telling me thats my tax code for the year. So hopfully its the right one!!
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23-11-2006, 09:13 AM
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strange eh - perhaps the hm revenues people need to sort out their site so its less confusing.
gutted paul, and i bet they want it all in one go too
gutted paul, and i bet they want it all in one go too
23-11-2006, 09:21 AM
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I think 503L is the std one for a single person mate as the 503 bit indicates roughly how much u can earn before tax (ie last yr it was somewhere in the region of £4800 so code was 480L) and the amount u can earn before tax goes up (generally) every year!
Note : these are only approximate figures as i cant remember the exact amount
Hope this helps
Note : these are only approximate figures as i cant remember the exact amount
Hope this helps
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23-11-2006, 09:27 AM
#8
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Originally Posted by SapphyMike
strange eh - perhaps the hm revenues people need to sort out their site so its less confusing.
gutted Paul, and i bet they want it all in one go too
gutted Paul, and i bet they want it all in one go too
Its a computer fuckup by them so I'm not fussed
23-11-2006, 09:45 AM
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Originally Posted by Graceland
Originally Posted by SapphyMike
strange eh - perhaps the hm revenues people need to sort out their site so its less confusing.
gutted Paul, and i bet they want it all in one go too
gutted Paul, and i bet they want it all in one go too
Its a computer fuckup by them so I'm not fussed
23-11-2006, 10:09 AM
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Originally Posted by bigchez
Yeah, 503L is a normal tax code. Simply means you can earn £5030 before paying tax.
23-11-2006, 10:33 AM
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