HMRC is handing money back to workers
HMRC is handing an average of £900 back to workers from April - if you have the right code on your payslip.
But the exact amount depends on your tax situation and those with certain tax codes on their payslip will see a bigger benefit.From April 6, the government is changing National Insurance, cutting 2% from the amount of National Insurance tax you lose from your payslip. The tax cut announced for April is the second time the tax has been reduced this year, following another 2% cut in January. It means that the two cuts, worth an average of £450 each, will see a £900 boost on average this year once April rolls around.
The change to National Insurance ONLY affects people earning up to a maximum of £50,270 which means it only applies to people on the 12570L tax code, unless there is a specific quirk to your tax situation.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
How I Manage My Money: PA, earning £900 a month, took £50k lump sum from pensionKat Vasili thinks the state pension is inadequate and is grateful she has a substantial workplace pension pot
Read more »
'Psychic' fined for claim he could cure cancer charging £900 for 'healing' eventHe said he discovered the gift of healing after meeting aliens in a car crash.
Read more »
DWP confirms £500m cost of living support package for next 12 monthsBut it might not be the £900 you were hoping for
Read more »
Martin Lewis urges people to claim up to £1,256 from HMRC before April deadlineHMRC paid over £1,000 into one viewer’s bank account within two weeks of claiming.
Read more »
Families urged to apply now for £252 HMRC payment – before April deadlineLow-income couples could be in line for a cash boost worth hundreds of pounds – but the deadline is fast approaching
Read more »