1257L Tax Code? Tomorrow could be a good day for you!

If like the majority of taxpayers, your tax code is 1257L, from tomorrow (6th April 2024) due to changes with National Insurance contributions, you could see an additional £200 – £750 in your pay.

Rishi Sunak “Hard work is one of my core values, and the progress we have made on the economy means we can reward work with a tax cut worth £900 for the average earner. This marks the next step in our plan to end the unfairness of double taxation of work by abolishing National Insurance in the long term.”

Chancellor of the Exchequer, Jeremy Hunt “The record tax cuts taking effect tomorrow show our economic plan is working – because of the progress we’ve made we’re putting hundreds of pounds a year back into the pockets of working people across the country. It shows we stand behind those who work hard and fires the starting gun on our long-term ambition to end the unfair double tax on work.”