Hundreds of thousands of workers could be missing out on a pay increase after the minimum wage rose by nearly 10 percent last week.
23.03.2023 - 17:33 / manchestereveningnews.co.uk
Martin Lewis is urging the millions of people in the UK who receive a regular payslip to check it straight away as they could have lost out on thousands.
The Money Saving Expert founder was live in Liverpool on Tuesday for an end-of-series special of his Money Show Live on ITV. The finance guru said people should check their wage slips as soon as possible before an April deadline as they could lose out on thousands of pounds if they don't.
He told his audience, and ITV viewers, that if the deadline is missed and it turns out your tax code was wrong, you won't be able to reclaim the money and some people could lose thousands of pounds that they're owed. Yorkshire Live reports he also told people exactly how to check their tax codes.
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Mr Lewis said: "Urgently check if yours is correct. Your tax code is a number that tells your employer or your pension provider what tax to deduct from your income.
"1257L is a common one. The way to work this out is to add a zero to the end, so that becomes £12,570 which is your tax-free allowance. As for the L, that's complicated. I think from memory, that means 'lower'."
He added: "You need to check yours. Millions are wrong and it is YOUR responsibility. It is not HMRC's responsibility, it is not your employer's responsibility.
"If it's wrong and you underpaid, they'll come and they'll want the money and that is a nightmare for people. But if it's wrong and you overpaid then you're due the money back, but the deadline for the 2018-19 year is coming fast.
"This could be big money."
The deadline for the 2018-19 year is April so you don't have long to claim the money if you're owed. Martin also advised that
Hundreds of thousands of workers could be missing out on a pay increase after the minimum wage rose by nearly 10 percent last week.
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it was announced he'd sadly passed away on 28 March. Paul, famed for hosting shows such as The Paul O’Grady Show, Blankety Blank and For The Love Of Dogs, "unexpectedly but peacefully" died on Tuesday, his partner Andre Portasio announced in a statement. Fans and fellow famous faces have flocked to social media to pay tribute to the late star, with the likes of Lorraine Kelly and Martin Lewis leading tributes.
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Numerous celebrities have shared heartfelt tributes to late TV presenter Paul O'Grady after it was announced he'd sadly passed away on 28 March. Paul, famed for hosting shows such as The Paul O’Grady Show, Blankety Blank and For The Love Of Dogs, "unexpectedly but peacefully" died on Tuesday, his partner Andre Portasio announced in a statement. Fans and fellow famous faces have flocked to social media to pay tribute to the late star, with the likes of Lorraine Kelly and Martin Lewis leading tributes.
The RAC has warned that people who fill their cars up with diesel could be paying far more at the pumps than they should. Diesel is being sold for around 17p a litre more on average than petrol at forecourts across the UK - despite wholesale prices for both fuels being virtually identical.
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Martin Lewis has issued a warning to anyone in the UK who is paying council tax. The founder of Money Saving Expert has urged everyone to check their council tax band as he says up to 400,000 people are in the wrong band.
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Martin Lewis is set to become a regular co-host on ITV’s Good Morning Britain.The 50-year-old financial journalist and consumer champion will join the weekday breakfast show on various Wednesdays across the year, alongside the show’s long-term presenter Susanna Reid. Speaking about his appointment, Lewis said: “To have the ability to hold politicians to account over the cost of living is a privilege and a responsibility.
Martin Lewis has signed as a regular co-host on the ITV show after Piers Morgan infamously stormed off and subsequently quit. The award winner journalist and broadcaster has will kick off his new role with a tax year end special on Wednesday 29th March at 6am on ITV1 and ITVX. Martin will present alongside Susanna Reid on various Wednesdays this year after stepping into the role of co-host several times since Piers departed GMB.
Martin Lewis is urging households up and down the country to check if they are eligible for a Council Tax discount before the new financial year begins on April 6. While Council Tax band evaluations differ in Scotland, England and Wales, the various ways to qualify for a discount are mostly the same.
With the cost of living continuing to directly impact people's finances, many will be looking for ways to save and - if possible - make extra cash.
Martin Lewis has shared essential advice for anyone unable to get through to the Future Pension Centre to buy missing National Insurance (NI) years in order to boost their State Pension entitlement. The UK Government recently extended the deadline from April 5 to July 31 due to a surge in demand for the service and has frozen the prices of each year.
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Martin Lewis has issued a warning to the millions of people across the UK who are paying into a pension. Many people across the country pay into a pension, either through their workplace or privately, to boost their income on top of the state pension in later life.
Flying is set to become more expensive for Brits next year as Chancellor Jeremy Hunt announced in the budget that Air Passenger Duty (APD) would rise in line with inflation. The increase will hit passengers on domestic and long-haul flights the most, although short haul international rates will remain frozen.