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2:07
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HMRCgovuk
How does a tax code work?
Not sure what your tax code means? This video breaks down what your tax code means and how it works. Whether you're paid weekly or monthly and wherever you live in the UK, we explain how your tax code is used. Find out: • what the numbers in your tax code mean • how your tax code is used • about the different tax rates across the UK ...
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In this Video, Goonj Thakkar outlines the proposed changes and benefits of the new Income Tax Act, which is slated for implementation from 1 April 2026. The key changes are focused on simplifying the tax code and reducing complexity: Change No. 1: Simplified Rules: The new rules aim for simplicity by reducing the number of sections, chapters, and pages by almost half. The act introduces added tables and formulas to make understanding easier. Legal jargon and complex terms have been reduced. Chan
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