UK-wide tax allowances
Allowance | 2022-23 | 2023-24 |
Personal Allowance (regardless of age) | £12,570 pa | £12,570 pa |
Income limit for Personal | £100,00 | £100,00 |
Blind person's allowance | £2,600 | £2,870 |
Marriage allowance | £1,260 | £1,260 |
Income tax bands
Income tax band | 2022-23 | 2023-24 |
Basic rate (20%) | £1 - £37,700 | £1 - £37,700 |
Higher rate (40%) | £37,701 - £150,000 | 37,701 - £125,140 |
Additional rate (45%) | Over £150,00 | Over £125,140 |
Emergency tax code | 1257L | 1257L |
Emergency tax code
The emergency tax code is used when the UK tax authority (HMRC) doesn't have enough information to calculate your correct tax code. This is usually because you're a new employee, you've changed jobs, or you've claimed certain tax allowances or reliefs.
If you've been given an emergency tax code, it's important to act quickly to ensure you're not paying more tax than necessary. While you can contact HMRC directly, let Ben Accounting take the hassle out of the process for you