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.
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