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Accounting news

New online tax checker tool

HMRC have issued a new online tool so you can check what your PAYE tax code means.

HMRC says you can “find out what the numbers and letters in your tax code mean and how much tax you will pay”. It’s often a puzzle as to what all those letters and numbers mean. It’s a good idea to check, because sometimes codes can contain out of date information, like jobs you have left or benefits you no longer receive. You could be paying too much tax during the year without realising. You can also use the check your income tax service. If your code seems wrong, use the links to get it updated. Your employer can’t do it for you.


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