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T O P I C R E V I E W
hammy0107
Posted - 16 May 2008 : 16:52:12 Keep hearing about BR's having a zero tax code. Does this mean you have Zero free pay allowance, i.e pay tax on every penny? Obviously when filling in I & E's you give your net take home which would be completely wrong once a Zero code is applied.
2 L A T E S T R E P L I E S (Newest First)
melanie_giles
Posted - 17 May 2008 : 11:31:03 It also means that the tax you do not pay directly to HMRC for the remainder of the tax year is captured by an Income Payments Order, so you will be no better off financially as a result.
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Helpful Advice
Posted - 16 May 2008 : 19:59:21 Hi Hammy,
It means you do not pay tax until the end of the tax year.
In the same section it asks how much tax you pay as well as your net income so they would use this as the basis for their calculations
