HMRC has clarified the payslip tax code that could result in a £900 windfall for workers from Saturday. The government's tax department, HMRC, is set to pay out more to employees with a specific code on their payslip starting this Saturday (April 6). This comes as part of changes to National Insurance, which will see a further two per cent reduction in the amount deducted from workers' payslips.
These changes were previously announced by Chancellor Jeremy Hunt in his Spring Statement and Budget. National Insurance contributions are set to decrease from 10 per cent to eight per cent, following an earlier reduction from 12 per cent to 10 per cent in January. Mr Hunt confirmed this move, which will affect 27 million workers, on March 6 during his Budget announcement in the Common