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Is my tax code correct

1 reply

SleepysaurusRex · 08/04/2021 21:48

Before I waste precious time on the phone to HMRC, I just wanted to check with anyone who knows more than I do whether I actually have cause to contact them. My tax code on my pay slips for 2020/2021 is 1249L. According to every website out there it should be 1250L, and a take home pay calculator suggests I have been slightly more tax than predicted (around £7 a month).

So I suppose my question is: is there a reason why my tax code is what it is?

OP posts:
ForensicAccountant · 08/04/2021 23:25

Your tax code can get adjusted if you have underpaid tax or if you have taxable benefits in kind. It works by reducing your tax free allowance from £12500 to £12490. Although this would suggest you only pay tax on an extra £10 per year - that’s £2.

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