Tax Code 1250l Meaning
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.
Tax Codes
Tax codes affect how much income tax you pay on your payslip, so it’s important to make sure your employer is using the right one. Here you’ll find guides to help you understand how tax codes work and how deductions are made.
Friendly Disclaimer: Whilst I am an accountant, I’m not your accountant. The information in these guides are legally correct but are for guidance and information purposes only. Everyone’s situation is different and unique so you’ll need to use your own best judgement when applying the advice that I give to your situation. If you are unsure or have a question be sure to contact a qualified professional. I cannot accept responsibility for any losses or penalties you may incur while following the contents.
How Tax Codes Work
A tax code is a numerical number followed by a letter issued by HMRC. Find out how they are generated and what yours means in these guides:
- Understanding HMRC Tax Codes
- Why Did HMRC Change My Tax Code?
- What Happens If Your Tax Code is Wrong?
Types of Tax Codes
Income tax and your personal allowance may be calculated in different ways if you have different tax code letters. Here are the most common adjustments and what they mean:
Common UK Tax Codes
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