Tax Codes
Posted on 8th February 2023 by Joanne Stoneman
You should check your tax code if HMRC sends you notice of a new one, as they can be wrong, resulting in a tax bill at the end of the tax year.
If you pay tax through PAYE on your salary or private pension your employer or pension company will use your code number to work out the tax it deducts each time they pay you. Sometimes HMRC will amend this code various times throughout the year. It's usually this time of year, HMRC will start sending out new amended codes for the new tax year 2023/2024.
You should check your tax code if HMRC sends you notice of a new one, as they can be wrong, resulting in a tax bill at the end of the tax year. Errors can be quickly amended.
If you need any help checking your tax code please give us a call.