Martin Lewis revealed how one viewer was able to save thousands in tax after following his tax code advice on Tuesday's episode of the Money Show Live.
The happy viewer, whose wife had been paying a higher tax band than she was supposed to, was repaid £2,585 by HMRC.
The person emailed the show to thank the Money Saving Expert founder, saying that his tax code calculator allowed them to check how much was owed and correct the error.
Others on social media praised the calculator, with one person on Twitter saying: "I checked and HMRC owe me £445 from the past 2 years and I am due an in-year adjustment now also as I am PAYE. Check. It is worth it"
Very important: Take 2 minutes to check your tax code is correct: https://t.co/QwfkgsZ5WQ #MartinLewis
— Martin Lewis (@MartinSLewis) January 10, 2023
Later in the show, Martin Lewis went on to explain the government's Energy Price Guarantee as well as ways people can get better deals on their broadband package.
The expert's advice to people involved checking comparable deals from other providers and politely informing their current provider that they may have to leave if the offering isn't improved.
How to reduce your energy bills
How to use Martin Lewis' tax code calculator
Previously, Martin Lewis revealed one simple way to check how much you should be paying by using the Money Saving Expert tax code calculator.
The amount of tax you pay is based on your total income for the tax year, whether you have more than one job, interest on savings, or even rental income on a second property.
READ MORE: Martin Lewis advice helps woman recover £2,600 in savings
How to find your tax code
You can find your tax code by checking:
- your payslip
- your PAYE coding notice
- your P45
- your P60
- pension advice
- HM Revenue & Customs
Find out more details about what your tax code means via the Money Saving Expert website.
If you have one employer and earn under £100,000, it's likely to be 1257L (with an S at the start if you live in Scotland and a C at the start if you live in Wales), Martin Lewis says.
If you have over or underpaid in tax, you can find out what your next moves are by visiting the Money Saving Expert website.
The next episode of the Martin Lewis Money Show Live will air on ITV on Tuesday, January 17 at 8 pm.
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