More than 5.5 million workers paid too much tax to HM Revenue and Customs (HMRC) last year, receiving payments of £661 (on average) back as a result. A total of £3.
57 billion in overpaid tax was rebated to more than 5.5 million workers across the UK last year, according to a Freedom of Information (FOI) request put to HMRC by The Sun. The main reason for these repayments, according to the news outlet, was these employees were in the wrong tax code.
The Sun explains: "Anyone employed or paid via PAYE is given a tax code by their employer via HMRC and it is shown on your payslip. "This code dictates how much income tax you pay on your earnings - so it's important to check if you're on the right one." Have you recently started a new job? 🙌 Use our new starter checklist for PAYE to make sure you get on the right pay faster.
💷 More info below 👇https://t.co/ukbTXyhD3R pic.twitter.
com/LloGISVmxo — HM Revenue & Customs (@HMRCgovuk) August 23, 2024 Are you owed £661 by HMRC? - how to check If you want to check your tax code to make sure it is correct, you can do so via: The HMRC app Your payslip A HMRC spokesperson, speaking to The Mirror, said: “Tax codes are based on information provided by employers or pension providers. "People can quickly and easily check their code on our free HMRC app and online. "If they think they’re on the wrong tax code, they should tell us by using their online personal tax account.
” If you’ve paid too much tax by the end of the tax y.