Tax Code Reductions Explained: Why Your Tax Code Changed
Tax Code Reductions Explained: Why Your Tax Code Changed
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Your tax code can have a big impact on your finances. It tells your employer or pension provider how much Income Tax to take. But when we asked recently, 40% of you told us you don’t know what yours means! 🤯 So what does you tax code mean? Numbers show your personal allowance. Letters relate to your situation and how it alters your personal allowance. What the most common letters mean: S or C: You live in Scotland (S) or Wales (C). L: You’re entitled to a tax-free personal allowance. M or N: Yo
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