Check your PAYE code
You should check that you are on the correct code. Don’t just assume that if tax is being deducted at source it must be right. If you have been paying too much tax, you can claim back the excess for up to six previous years. If you have been paying too little, the Revenue can claim it back.
Follow our quick guide to structuring your financial affairs more tax-efficiently.
Tip 1
If you are married or in a registered civil partnership, you could potentially increase your tax-free income by switching assets that produce income into the name of the person who has not used all of their personal tax allowance. If you are both under the age of 65, you can currently each receive up to £6,475 (2009/10) a year before income tax is payable. For the over-65s there are even higher allowances available.