New tax year tax codes

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HMRC have said new tax codes for 2020/21 will be issued by 10 March and will be based on 2019/2020 rates.  After the budget on 11 March HMRC will issue new codes in due course.  Therefore you may find you are using “old” tax codes in April 2020 even though the new personal allowances have been announced by then!

As with all of our tax tips and web pages this information is necessarily summarised and of a general nature.  If you would like detailed specific advice please contact us