Tax Code

Maggie402

My tax code is 1064LM1, I work about 30 hours a week and don't understand why I have 2 letters in my code, any help or advice will be welcome:)

jem16

Maggie402 wrote: »

My tax code is 1064LM1, I work about 30 hours a week and don't understand why I have 2 letters in my code, any help or advice will be welcome:)

The normal tax code has L at the end and simply means it's for someone under age 65/66.

The M1 means a Month 1 tax code which means that your tax is being looked at each month in isolation and is not being looked at cumulatively over the course of the tax year as it should.

You would have got a P2 Coding Notice to explain the slightly higher tax code of 1064L as opposed to the normal 1000L. It should have explained the reason behind the M1 use - usually explained by saying we have instructed your employer to use your tax code in a special way.

Have you recently had a tax code change?