What is the 0T tax code?
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What is the 0T tax code?
0t tax code is an emergency code: no personal allowance is included on your earnings. That means that if you receive no tax free threshold, which your entire income, then you’re taxed on that income. It is used temporarily when you don’t have enough income details from HMRC or your employer — for example when changing a job and your new employer does not have all of your details from your previous employer. However, with this, the taxing of the tax is ensured, yet the overpayment can occur. HMRC will send you a letter about changes you need to make to your tax information and be on the correct code from here on in.