My UK Tax Code is 480t – Why?
I have one job , am not married and am under 50. I do not earn over 30,000
I was lead to believe my tax threshold was £5,225.00 but have been on Tax Code 480T for at least 6 Months.
The only company benefits I have are :
Travel Insurance @ £72.00 a year and Private Health Care.
Would these benefits reduce by threshold as much as their annual premiums?
It seems harsh that I am getting penialised on a benefit.
I have called my tax office but they don’t know why.
Please help ! Cheers
Your tax free allowance this year is 6035.
The code 480 gives you 48099 tax free allowances and therefore £1226 of your allowances have been allocated to some other untaxed income. This could well be the £72 travel insurance and privtae health care. Your employer should have given you a copy of form P11d which details benefits in kind – if not, you need to ask for a copy and this may well solve the mystery. If your benefits dont come to 1226, then you need to ask the tax office to amend your code.
You are not getting penalised on a benefit – all benefits in kind are taxable.
Incidently, its ridiculous for HMRC to say they dont know why your code is what it is because they issued it!
Filed under Health Insurance by on Jun 22nd, 2010. Comment. 
hey guys im trying to open a office to sell insurance such as health,life and auto insurance?
im located in san jose,ca and wondering how much it would cost to maybe like partnership with like AAA,farmer or mercury
does anone no the steps or how much it would cost or do you guys have any websirtes it would be greatly appreciated thank you in advance-
You can see http://www.simplyinsurancequotes.com?id=ee43 there’s a link on the left for agents. Good luck.
Filed under auto insurance price quote by on Jun 21st, 2010. Comment.