[piː-eɪ-waɪ-iː ˈnəʊtɪs ɒv ˈkəʊdɪŋ (piː2)]
PAYE Notice of Coding (P2) is a letter that contains tax code for the upcoming tax year. This is to ensure you pay the correct amount of tax via PAYE.
PAYE Notice of Coding (P2) is a document issued by HMRC to employed individuals informing them of their Tax Code for the upcoming Tax Year. It also includes reasoning on why they have that Tax Code, such as their tax-free allowance and any deductions or adjustments that have been made.
It is important to check that the information is correct as otherwise you will either overpay or underpay your tax. If you believe it is incorrect, you can contact HMRC and appeal the decision.
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