What Is a K Tax Code? | UK PAYE Tax Code Explained for 2025-26 | MTA скачать в хорошем качестве

What Is a K Tax Code? | UK PAYE Tax Code Explained for 2025-26 | MTA

Do you have a K tax code on your payslip and are wondering what it means? In this video, MTA (My Tax Accountant) explains everything you need to know about the K tax code in the UK for the 2025-26 tax year — why HMRC assigns it, how it affects your salary, and what to do if you think it’s incorrect. A K tax code usually means that you owe tax to HMRC from previous years, or that the total value of your deductions and benefits exceeds your tax-free personal allowance. If you see a K prefix on your payslip, it’s important to understand how it works to make sure you’re not overpaying or underpaying tax. ✅ In This Video, You’ll Learn: What a K tax code is and what it means for UK taxpayers (2025-26) Why HMRC issues K tax codes under PAYE How to read and interpret your payslip when you have a K code The difference between normal tax codes (e.g. 1257L) and K codes How benefits in kind (company car, medical insurance, etc.) can trigger a K code How tax underpayments and previous debts are recovered via your K code Examples of how much extra tax you might pay under a K code How to correct or query an incorrect K code with HMRC The maximum limit on how much HMRC can deduct under PAYE rules Steps to check if you’re due a refund or need to update your employment details 📊 Key Facts About the K Tax Code (2025-26): K tax codes are issued when your taxable benefits and unpaid tax exceed your personal allowance (£12,570 for 2025-26). It allows HMRC to collect owed tax directly through your salary or pension. You can identify it easily — your tax code starts with a ‘K’, e.g. K475 or K1500. Your employer increases your taxable income by the K amount before calculating tax. HMRC limits deductions to ensure no more than 50% of your gross income is taken in tax. 💷 Example (2025-26): If your K tax code is K400, it means your total taxable deductions are £4,000 more than your personal allowance. Your employer will add this £4,000 to your income before calculating your tax, meaning you’ll pay more tax each month until the underpayment is cleared. 💡 Expert Tips from MTA (My Tax Accountant): Always check your HMRC online account for a breakdown of your tax code. Report any errors immediately — especially if you’ve changed jobs or benefits. Keep all your P60, P45, and payslips for tax record accuracy. If you receive a company benefit, ensure HMRC updates its value annually. If your K tax code seems too high, contact HMRC to request a review. Seek help from a qualified tax accountant to avoid overpayment and ensure compliance. 🧾 When to Contact HMRC or a Tax Expert: Your income or benefits have changed recently. You think the tax you’re paying doesn’t match your earnings. You’ve repaid old debts but your K code hasn’t been updated. You have multiple jobs or pensions and want your code adjusted properly. 💼 Professional Help from MTA (My Tax Accountant): At MTA (My Tax Accountant), we specialise in PAYE tax codes, HMRC corrections, and income tax assessments. If you have a K tax code, our experts can review your situation, liaise with HMRC, and ensure you’re paying the correct amount of tax for 2025-26. 📞 Contact MTA (My Tax Accountant) today for expert UK tax advice: WhatsApp / Phone: 07854 255375 Email: [email protected] Website: www.mytaxaccountant.co.uk Subscribe for more videos on UK tax codes, HMRC updates, and payroll guidance, brought to you by MTA (My Tax Accountant) — your trusted UK tax experts. ⚠️ Disclaimer: This video is for informational purposes only and does not constitute financial, legal, or tax advice. Tax laws and HMRC regulations can change during the 2025-26 tax year. Always seek professional advice before making tax-related decisions. MTA (My Tax Accountant) accepts no liability for any loss arising from reliance on the information provided. SEO Hashtags #KTaxCode #TaxCodeUK #MyTaxAccountant #MTA #PAYEUK #HMRC #UKTaxes #TaxHelpUK #TaxAdviceUK #UKTaxCode #HMRCUpdate #UKAccounting #UKFinance #TaxRefundUK #TaxOverpayment #PAYETaxUK #UKTaxExperts #UKPayroll #TaxPlanningUK #HMRC2025