Tax code

Cliddy

A simple question I hope.

I have a tax code of 524 M/0
I know what the 524 is, and the M is having transferred 10% of tax allowance from generous wife!
But what is the 0 for ?

Many thanks.

Dazed_and_confused

It isn't actually part of your tax code but likely means, particularly this early in the tax year, that your employer is using the tax code on a "cumulative" basis which means your tax is re-calculated each time you are paid. Which is perfectly normal.

If it was a 1 then that would be "non cumulative" and each payment is looked at on its own, ignoring any pay or tax deducted earlier in the tax year.

Check with your employer just to be certain.