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Are You Paying the Wrong Tax? | Leeds News

Are You Paying the Wrong Tax? | Leeds News

Published 1 week, 2 days ago
Description

Did you know millions are on the wrong tax codes—risking overpayment or underpayment? Overpaying means losing cash; underpaying could lead to a massive HMRC bill. The average overpayment in the UK? £689. Most basic rate taxpayers use code 1257L, but emergency codes like W1, M1, or X appear after job changes or data errors. Codes like BR, D0, or D1 mean different tax rates apply. Martin Lewis says it’s your job to verify your code—it’s not HMRC’s responsibility. Check yours now to avoid costly surprises and ensure you’re paying exactly what you should.

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