UK's HMRC alerts taxpayers of potential overpayments due to incorrect tax codes 0T vs 1257L.

The UK's HM Revenue & Customs (HMRC) has alerted taxpayers about potential overpayments due to incorrect tax codes. The 0T code, often assigned when employers lack sufficient information, taxes all income without allowances, unlike the 1257L code, which allows for a personal allowance. Affected individuals should contact HMRC's helpline or use the online portal to rectify their tax code and prevent further overpayment.

October 07, 2024
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