What tax codes are, how they’re worked out and what to do if you think your code is wrong.
HMRC always recalculate the tax that someone has paid once a tax year has ended. If for some reason it turns out someone was on the wrong tax code and they owe additional tax, then they will issue a simple assessment. What is an HMRC Simple Assessment? If you are employed or receive a pension, … Read more
A guide to the emergency tax code, why it’s used, what it means to the amount of tax you are paying and how to fix your code.
If your payslip shows the 1185l tax code, then you’re on one of the most commonly used tax codes for 2018. In this guide, I’ll explain more about this code, including what it means, why it’s used and how to check it’s right for you. What is a Tax Code? A tax code is a … Read more
If you have paid too much income tax you will be due a P800 tax refund. Here’s how to check on the status of your tax refund.
A P800 letter is issued by HMRC if you are employed or receive a pension following the end of the tax year (usually by November) once they have checked your tax records they find that you have paid too much or too little tax. A tax year starts on 6 April and ends 5 April … Read more
The tax code D0 means all your income is being taxed at 40% without any personal allowance being deducted.
0T tax code is an emergency code meaning all your income is being taxed without any personal allowance being deducted.
BR stands for basic rate. It is an emergency tax code and means all your income is being taxed at the basic rate (20%) without any personal allowance being deducted.
What the 1250l tax code means, why HMRC issues it every year, whether you get it if you’re self-employed & checking it’s right for you.
The HMRC Marriage Allowance is a tax perk that allows one partner to transfer up to 10% of their unused personal allowance to another meaning that person can benefit from some additional tax free earnings. This can be useful if you are newly self employed or in the early stages of starting a business and your earnings are low.