Tax codes for the new financial year are now being used - check yours is right

dailyrecord.co.uk:

Tax codes are a hot topic at the moment as HM Revenue and Customs (HMRC) has now emailed or posted notifications of changes to tax codes for the 2022/23 tax year to an estimated 12 million people across the UK.

A tax code is used by an employer or pension provider in order to work out how much Income Tax to take from an individual's pay or pension.

Tax code 1257L will be the most widely used tax code for the 2022/23 financial year and is expected to be unchanged until 2026 as it only replaced the previous tax code - 1250L - for the 2021/22 period.

Most taxpayers receive an updated tax coding notice from HMRC in February or March each year and it's important to make sure it's correct as it is used to calculate how much tax you will pay.The new tax codes are used after the start of the next financial year on April 6, which means most employees will now be able to check if their tax code is correct on their April payslip.The personal allowance is the amount a UK taxpayer can earn tax free for the tax year, 2022/23, which works out at £12,570.