New Tax Year – New Tax Code 944L

Just a quick note to let you all know that HMRC will be introducing new tax codes for the 2013 – 2014 tax year. This will be affective from 6th April 2013.

For basic rate tax payers, we will now have code 944L. The complete, complicated list of tax codes for 2013 – 2014 can be seen here.

You need do nothing.

You may get notification from HMRC about your new code or it may come to you from your employers. As we’ve said before, if you get notified of a tax code change and it’s not 944L, please feel free to call us to get it changed or to discuss the implications and what the change means to you.

Basically, you can now earn £9440 tax free. It’s the new personal allowance amount.

As ever, if you are at all unsure about your situation, give us a call – we’re happy to help!