Guide to HMRC tax codes and how to find out if you're owed £689

manchestereveningnews.co.uk:

Understanding how much money is being taken off your salary by HM Revenue and Customs (HMRC) each month is rarely simple and correcting any mistakes can often be time-consuming and worst of all, dull.

With National Insurance Contributions, pension payments, and student loans subtracted from your pay packet each month, it might not always seem simple to figure out if you are being paid what you should be.

However, a little bit of tax code knowledge can make your life much easier. The Government raked in £5.8bn from tax overpayments in the past financial year, which works out as an average of £689 in overpaid tax per person.

Anyone who has paid too much tax can claim it back from HMRC, but first they must find out their current tax code. READ MORE: HMRC make major student finance change that will impact thousands of young people Adam Bennett, a workplace expert from Digital ID, says: "Keeping an eye on your tax code and understanding its implications is essential for managing your finances effectively.