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flag HMRC updates tax codes, reducing tax-free allowances for savings interest, confusing UK taxpayers.

flag HMRC is sending new tax codes to thousands of UK individuals, affecting those with savings over certain limits. flag This change reduces tax-free allowances for savings interest, impacting how much tax these individuals will pay. flag The updates began with the new tax year on April 6 and have led to confusion among some taxpayers, with discussions on forums like the UK Personal Finance sub-Reddit.

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