Tax code K475 explained
K code — your deductions are larger than your allowances, so £4,750 is added to your taxable pay instead of being tax-free.
| What it sets (2026/27) | Value |
|---|---|
| Tax-free allowance | −£4,750 added to taxable pay |
| Standard allowance (1257L) | £12,570 a year |
| Income Tax on a £35,000 salary | £8,360/yr |
| vs the standard code | +£3,874/yr (+£323/mo) |
What to check
ℹ K code — extra taxable amount. Benefits or an underpayment outweigh your allowance, so £4,750 is added to your taxable pay. The extra tax taken can't be more than half of any single payment.
ℹ About £3,874/yr more tax than the standard code. At £35,000, this code takes roughly £323 a month more than 1257L would. Expected if you have benefits or an underpayment; if you don't, query it.
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