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taxadvisor.uk
taxadvisor.uk, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 5015
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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Hi my tax code has moved from 707L TO 387L can you tell me

Customer Question

Hi my tax code has moved from 707L TO 387L can you tell me if this is higher or lower please
Submitted: 3 years ago.
Category: Tax
Expert:  taxadvisor.uk replied 3 years ago.

Hello and welcome to the site. Thank you for your question.

A lowering of the tax code means you have less tax free income before your income is taxed.

If your tax code has moved from 707L to 387L it means your tax free income allowance has moved downwards from £7,070 to £3,870.

Has there been a change in your circumstances to bring the tax code down? The tax office should explain the reason why there is a change in your tax coding.

I hope this is helpful and answers your question.

If you have any other questions, please ask me before you rate my service – I’ll be happy to respond.