Tax Rebates & Refunds

Common tax code questions answered pt.1

September 3, 2012
Posted in Income Tax — Written by Jennifer

Some people see the income tax system as extremely complicated to figure out, but this doesn’t have to be the case. You don’t have to understand it fully, but you do need to learn about the parts that apply to you. Otherwise, you may be paying the wrong amount of tax and have to claim a tax rebate.

One of the most difficult parts of the UK tax system to understand are tax codes. Many people don’t know what they mean or why they are on a particular tax code.

The following are a few of the most commonly asked questions relating to tax codes and their answers (continued in pt.2 of this guide), which should help to clear things up a little.

What is a tax code?

A tax code is a code which refers to your personal circumstances and how much tax you are supposed to be paying. It is usually made up of several numbers and one letter.

How do I find out my tax code?

Your tax code should be printed on your payslip, P45 or P60 form.

See pt.2 of this guide for more tax code FAQs and their answers.

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