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Tax Code on sole PAYE income

Answer
Scott OBrien
Posted Mon, 18 Nov 2024 17:30:17 GMT by Scott OBrien
Hi I have had a tax code of 0T for the whole of the current year, in which my base salary has been £120k and I have received a one off payment of £12k. I have no other income and all of the above is taxed at source through PAYE. Am I right that, allowing for everything else, I should still have some degree of personal, tax free allowance at this level of income?
Answer
HMRC Admin 34 Response
Posted Tue, 19 Nov 2024 10:34:16 GMT by HMRC Admin 34 Response
Hi,
Please refer to guidance at:
Income Tax rates and Personal Allowances: Income over £100,000
Thank you
Answer
Clive Smaldon
Posted Tue, 19 Nov 2024 12:29:19 GMT by Clive Smaldon
Not HMRC...no, all allowances are "lost" at £125140, your income is £132000

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