Martin Lewis warns millions of workers to check tax codes before April – and you could be missing out on thousands

MARTIN Lewis is warning millions of workers to check their tax codes before April - as they could be missing out on thousands.

HMRC is currently sending out codes for the new tax year that starts on April 6 - and it's up to you to check yours is correct.

The said on his this week: "It’s your legal responsibility to check your tax code is correct.

";Millions each year are wrong and it can be a nightmare.

"If you underpay, in a couple of years you suddenly get a bill of thousands of pounds that you’ve spent.

"Or if you’re overpaying then you’re not getting the take home pay that you should."

Tax codes apply to everyone who's employed full-time or part-time, or receiving a private pension.

In most cases, HMRC will issue you a code but mistakes happen, especially if you've moved jobs or started receiving benefits for the first time over the past year.

If you've been or still are on an incorrect tax code, it's worth claiming your cash sooner rather than later as the time limit to get a rebate is four years from the end of the tax year for which you overpaid.

How to check if you're on the right tax code

A tax code is usually made up of a combination of numbers and letters and is used by employers and pension providers to work out how much income tax you should pay.

Employers take the sum of money from your paycheck before it arrives in your account.

When reading your payslip, first make sure your name, address and National Insurance number is correct - and if it isn't, contact your employer's HR department.

Most of us who are basic-rate taxpayers (because we earn less than £50,00 a year) can earn £12,500 between April 2019 and April 2020 before paying tax. This is called your personal allowance.

The figure will remain the same for the 2020/2021 tax year because the personal allowance has been frozen.