HM Revenue and (HMRC) has issued an alert about a common situation that can lead to taxpayers getting the incorrect tax code and overpaying tax.
The concern was brought to light when a taxpayer reached out, perplexed by the substantial deduction from their wage. They queried: "I got paid £384.78 after taxes it was £511 before.
Why is it deducted that much is it emergency tax?" In response, HMRC inquired about which tax code had been used for the payment by the employer.
The taxpayer indicated they were on tax code 0T but believed they should be on 1257L. Typically this is the tax code for individuals if they have one job with one employer, meaning they have the full personal allowance and are exempt from income tax on the first £12,570 earned each year.
Read more on manchestereveningnews.co.uk
Get the latest stars news and celebrity rumours with exclusive stories, photos, videos and interviews.
Breaking up, scandals, engagements, divorces, gossip – all you need to know about the private lives of your favorite celebs.
Get to know the latest showbiz news along with exclusive interviews and even more. All this is waiting for you on the main page 24 hours a day, 7 days a week! Who, where, when, with whom, how, why and for what!? Stay tuned to know first!
Just follow us daily and we will provide you with the current news from the life of famous stars and celebrities.
Owner: SNOWLAND s.r.o.
Registration certificate 06691200
Address:
Snowland s.r.o.
16200, Na okraji 381/41, Veleslavín, 162 00 Praha 6
Czech Republic
©2024. All rights reserved.