Tax code 2016-2017

I understood we could all earn £1000 interest on our savings tax free. Is this what it refers to?

I think so. Bit mystified by it all. Can't understand why my sister and husband haven't got it on theirs. Someone suggested it was because they do their tax online and I don't. I was also informed I didn't have to submit a form this year. No doubt it will sort out even if I have to seek professional advice.

I just received my tax code and I know it is wrong as I gave up my last part time job in October. I'm just going to sit here and wait for them to sort it out and send a rebate. That way I can't spend it!

Humbert don't hold your breath, the only way I got mine back was to call and ask for it. If you do a tax return you have to specify you want it back now!

I have calculated how much less I will get each month on my pension in order to pay the tax on my savings. The government will get the tax earlier under this new system and I will have to keep strict records of interest paid to me and to DH so we can check at the end of the tax year. No idea how that is going to work as I don't do a tax return. I do know I will be overpaying as we gave away a substantial amount last year so interest will be a lot lower. So glad I have Excel!

My husband got his new coding on Thurs but it only has the £11000 personal allowance on it - I haven't had mine yet. If you are retired that might be why you've got the extra £1000?

Nothing to do with being retired.

Everyone can now earn £1000 interest in their savings before paying tax on them.

does no one read the news anymore?

Nonnie - a kindred spirit! I too love Excel.

I recently had to calculate the value of 25 pages of items declared BER (Beyond Economic Repair) for our insurancers following our fire.

Thank goodness for Excel

Sorry to hear about the fire Anya was it very bad? Been away for a few weeks so will have missed it.