During the 2012 tax year I received a retrenchment pay-out. It is reflected on my IRP5 with tax code 3907. According to the tax code definition I got from the SARS website, 3907 is defined as: "Other lump sums (e.g. backdated salaries extended over previous tax years, not approved funds).". Tax code 3901 is defined as: "Gratuities (retirement / retrenchment).".
Does it matter that the code seems to be incorrect on my IRP5, is there a tax implication?