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Nunn: high earning taxpayers trapped in a ‘K’ code drama

Yvette Nunn, director of Berkeley Associates, unpicks the complexity of tax coding for high earners, the dreaded ‘K’ code and the problem when HMRC’s automation leaves little room for flexibility when things go wrong, without a payroll manager to intervene

On the face of it, PAYE is a straightforward way of deducting the tax due on earnings or pension income, remitting it to HMRC before it is received by the taxpayer. It is an ‘enforced’ budgeting system which means employees do not get a big tax bill at the end of each tax year.

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