Unsure about payroll tax codes? Speak to us

A survey by Intuit QuickBooks, to coincide with National Payroll Week, reveals an astonishing 77% of SME employees wrongly believe that it is not their job to check their own payslips and make sure they are paying the right amount of tax.

The survey also discovered that just under half (45%) of SME employees had paid too much tax, caused by errors in their pay calculations.

Over 2,000 people in the UK were asked about their payslips, highlighting various confusions over tax codes.

1250L is the current tax code used for most people who have one job or pension.

Two thirds of those surveyed did not appreciate how multiple jobs could affect their tax position. And a fifth of those questioned admitted they did not check their payslips.

The survey indicates that employees need more guidance about their tax codes and that employers need to be sure they are operating their payroll correctly.

If you would like to know more information about Bishop Fleming Payroll Services by IRIS, please click here.