What Does Your Tax Code Mean?
Does your tax code look like a foreign language to you? We thought it may be useful to explain in simple terms how you can understand what your tax code means and how you can work out what your tax-free personal allowance is.
So, what is a tax code? Your tax code is a short code worked out by HMRC that’s then sent over to your employer or pensions provider so to ensure the correct amount of income tax (PAYE), or other taxes, are taken from your salary or pension each month.
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