Tax Codes

This is what your salary slip could look like in 2021. Look out for the tax code. For me the tax code has changed from 1250L to 1257L. What does this mean?
From time to time, HMRC changes the amount of money you can earn before you start paying tax(your Personal Allowance):). For the 2020/21 tax year, for instance, you could make £12,500 a year tax-free thats why the tax code was 1250L. The new tax year of 2021/22 started on the 6th of April 2021. When that happened, the new Personal Allowance threshold of £12,570 kicked in. As a result, the basic tax code that most people are on changed to 1257L. Now here is the thing. If you notice that your taxcode has changed then fire us a red alert message and we will help you get it sorted.
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