In the UK, tax codes play a crucial role in determining how much tax is deducted from your income. They indicate how much of your earnings should be taxed after accounting for any allowances. One such tax code that many people encounter is 0T M1. This specific code is often issued in emergency situations when […]
The M1 tax code in the UK is an emergency tax code assigned by HMRC, the tax authority, when there is insufficient information to determine an individual’s correct tax code. This temporary and non-cumulative code applies when there has been a change in circumstances, such as starting a new job, transitioning from self-employment to employment, […]