If my PAYE tax code is 647L, is it true that it should be 747L?

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    My PAYE tax code is 647L, but the websites I’ve looked at say it should be 747L, which is correct?

     

    The personal allowance for individuals aged under 65 for the tax year 2010/11 (which ends on 5 April 2011) is £6,475. If you have no deductions to set against your personal allowance your tax code for 2010/11 should be 647L. The standard personal allowance for the tax year 2011/12 (from 6 April 2011 to 5 April 2012) will be £7475, so your tax code for 2011/12 will be 747L.

    in General Information Tags: 647L747LPAYE tax codepersonal allowancetax year

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