TAX CODES .. what they mean ?

[MustangLady]

How do I find out what tax codes mean... I was under 647L but noticed my recent Payslip shows 747L. My circumstances haven't changed so wondered why my code had? Where can I find out what they actually represent. Thanks

[emeritus]

747L is now the basic allowance code which replaced 647L it means you can now earn
£7470 before Tax is paid which was £6470 in the last tax year

[chelle7272]

Everyone code has changed since 1st April. Your allowance before tax has risen from £6479 to £7479

http://www.hmrc.gov.u...ax/codes-basics.htm#2

[redman41]

Scroll down this Link and view your Tax Code here

http://www.hmrc.gov.u...etax/codes-basics.htm

[MustangLady]

Simpler than I thought. Thank you all ..

[dotty.]

I understand however that if you are in reciept of working tax credit, the amount paid will go down this year as you pay less tax at source.

[MustangLady]

Thank u Dotty ..