Martin Lewis Free Tax Code Calculator – How to Calculate Yours
Martin Lewis shared a free tax code calculator that could save you thousands of dollars.
Your tax code may look like a harmless mix of numbers and letters, but the Money saving expert revealed that it could have a serious impact on your purse strings.
Millions of people are affected by errors every year, with some people having to repay £1,000.
The financial reporter informed viewers about his tax code calculator that you can use to save yourself some headaches.
— Martin Lewis (@MartinSLewis) March 8, 2022
Use Martin Lewis’ Tax Code Calculator
If you already know your tax code, you can directly access the calculator directly here.
The amount of tax you pay is based on your total income for the tax year, even if you have more than one job, interest on savings on even rental income from a second property.
You will have a personal allowance (which is the amount you can earn before tax) for each of them.
If you need a little more guidance, Martin Lewis has outlined what you should do.
You can find your tax code by checking:
- your payslip
- your PAYE coding notice
- your P45
- your P60
- pension advice
- HM Revenue & Customs
Learn more about what your tax code means through the Money Saving Expert website.
If you have an employer and earn less than £100,000, it will probably be 1257L (with an S at the start if you live in Scotland and a C at the start if you live in Wales), says Martin Lewis.
And if you’ve overpaid or underpaid in taxes, you can find out your next moves by visiting the Money Saving Expert website.
The Martin Lewis Money Show will return to ITV in October 2022.