At this time of year, HMRC are starting to issue the new tax codes for the start of the coming new tax year. I have written before on how incompetent the Inland Revenue are on these matters, but at this time of year it is certainly worth mentioning again.
It strikes me that most people I speak to don’t really understand the content of their own tax code and therefore it concerns me that some people are unwittingly overpaying tax or, arguably worse, creating a tax underpayment for themselves which will come back and haunt them later on!
This issue is particularly of relevance if you have two or more jobs. HMRC appear to struggle with one tax code sometimes so you can imagine the potential mess when they have to try to get two or more codes right for you.
If you are to avoid any nasty surprises, it is crucial that your tax code is right. If you are in any doubts then please feel free to contact me at email@example.com