This infographic by Trueman Brown Chartered Accountants clearly explains the meaning of each UK PAYE tax code letter.
L: entitled to the standard personal allowance
M: received the Marriage Allowance from a spouse or civil partner
N: transferred the Marriage Allowance to a spouse or civil partner
T: tax code includes other calculations
0T: no personal allowance used or new job with missing tax details
BR: all income taxed at the basic rate
D0: all income taxed at the higher rate
D1: all income taxed at the additional rate
K: deductions exceed allowances
The infographic concludes with the firm’s website: www.truemanbrown.co.uk.
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