{"id":71141,"date":"2023-12-15T05:15:55","date_gmt":"2023-12-15T05:15:55","guid":{"rendered":"https:\/\/geels.net\/?p=71141"},"modified":"2023-12-15T05:15:55","modified_gmt":"2023-12-15T05:15:55","slug":"exact-code-on-payslips-to-see-if-youre-owed-money-and-it-can-be-up-to-2585","status":"publish","type":"post","link":"https:\/\/geels.net\/beauty\/exact-code-on-payslips-to-see-if-youre-owed-money-and-it-can-be-up-to-2585\/","title":{"rendered":"Exact code on payslips to see if you’re owed money \u2013 and it can be up to \u00a32,585"},"content":{"rendered":"
Taxpayers should look out for a code on their payslips to check if they're owed money.<\/p>\n
If your tax code is wrong, you might be paying thousands more than you need to. The code is a mixture of letters and numbers, with the most common being 1257L. <\/p>\n
But these numbers and letters determine how much income tax you pay on your earnings so it's crucial to have the correct one. <\/p>\n
READ MORE: Join the Daily Star's WhatsApp for the sexiest headlines, showbiz gossip and lots more<\/b><\/p>\n
You can read more lifestyle stories from Daily Star here.<\/b><\/p>\n
If you notice you're on the wrong tax code, you can claim back any overpaid tax for the last four years. It comes as one Martin Lewis fan secured a refund worth \u00a32,585.<\/p>\n
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It's your responsibility to check and let HMRC know if it's wrong. Tax codes on your payslip will let you know how much you should be paying to HMRC each month.<\/p>\n
Here's what each of the letters mean:<\/p>\n
You could be on the wrong tax code for several reasons. Whether your job changed or your salary has gone up or down, sometimes HMRC might not know circumstances have changed. <\/p>\n
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