With the new tax looming in 2 months time, you and your employer should expect to receive your updated tax code notice for the 2021/22 period. Most of us, will give it one look at it and proceed to quickly put it aside and give it not much thought.
HM Revenue & Customs can (and will) get these wrong. The time to check it and correct it, is now. Otherwise, it may prove costly. If you believe your tax code is wrong, you can contact HMRC via https://www.gov.uk/tax-codes/updating-tax-code.
This goes for Directors, higher earning individuals and more. We advise everyone not to ignore it.
For more on this and more, do not hesitate to give us a call. We’re here to help.