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What does this tax code mean?
nik_k
Posts: 301 Forumite
Does anyone have any idea what the tax code 1150L/0 refers to? I've tried searching via Google, but can't work out what the /0 on the end means :huh:
0
Comments
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Normally means it's being used on a cumulative basis so each time you are paid the tax is worked out accurately for the whole year from April 6th to the date you are paid.
The emergency tax code is 1150L and would be shown as 1150L/1. This would mean you get your tax allowance each week/month with tax being calculated for that payment in isolation without considering what's happened earlier in the tax year.0 -
Thanks! That makes sense0
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