Q. I am employed by my company M Ltd, and my wife’s company T Ltd. M and T have completely separate trades and operate independently. I currently take no salary from M Ltd and have a modest salary from T Ltd. However, HMRC have split my personal allowance 2/3 to the PAYE code issued to M Ltd and 1/3 to T Ltd. Can I get this changed, and if so how?
We can fix this by calling HMRC on the number shown on your PAYE code notice and ask them to change your PAYE codes. All we need is the expected level of dividends and interest or other income to be received in 2013/14.