Martin Lewis warns of a tax rule that prevents recovering lost tax when backpay pushes Brits into higher tax bands.
Martin Lewis warns of a "harsh" tax rule that Brits can't recover lost cash from. In his podcast, a listener shared a tax issue where they received backpay in 2022/23, pushing them into a higher tax band for 2023/24, leading to more income tax. Martin Lewis and tax expert Rebecca Benneyworth explained that there's no way to "go about getting the tax back."
June 28, 2024
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