FAQs

What are Tax Codes?

A tax code is used by employers and pension provides to calculate amount of tax to deduct from employee pay or pension. It is made up of a letter figures. Tax code is an index of how much can be earned before paying tax.
What is an NI number?

NI number is a reference number for the whole social security system. This ensure the national insurance contributions and tax you pay are properly recorded on the employer account.
What is the criteria to receive an NI Number?

To apply for NI numbers you must be. - Over 16 years - Resident in great Britain(England, Wales or Scotland)
What is income tax?

This is a tax on income. Not all income is taxable and you are only taxed on 'taxable income' income tax rate.
What does PAYE stand for?

Pay as you earn.
What is a P45?

This is a form got form an employer when an employee stops working. It shows record of the pay and tax deducted so far in the tax year.

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