DrFfybes wrote:Last month I discovered my 2 pensions in payment had different tax codes applied to them, not only were they different to each other, but also both were different to the one they'd been using prior to me submitting my previous SA, where they'd decided to reduce my allowance to account for the ERI and overseas dividends I'd earnt on assets I've since cashed in.
Oh, and HMRC did not inform me of any of these changes, I only found out from the 'payslips' and checking my SA account
Paul
Why would you expect the two pensions to have the same tax code? The tax code is a description of the amount of allowances allocated to that source of income, and necessarily your allowances can only be allocated once. Typically either one source will be entirely covered by allowances and the balance of allowances allocated to the other, or all the allowances allocated to one source and the other taxed in full at your marginal rate. I suppose your allowances could be divided equally and half allocated to each, but this is not normal in my experience (it wouldn't work if you were liable to higher rates of tax).
I would expect however for you to be sent copies of each of your tax codes whenever they are changed, but perhaps you have agreed to go paperless? HMRC in common with nearly everyone else seems very keen on this and I find you have to be vigilant if you want to avoid inadvertantly agreeing to it. I much prefer to have a paper copy of . . . well most things financial, much easier to collate.
However you can always check your Personal Account to see what codes are currently in operation, this is useful.