Tax Code Guide
BR-M1
Tax Code BR M1
What does this code mean?
BR M1 applies the Basic Rate of 20% to all income on a monthly non-cumulative basis. Common for second pensions or new pension drawdown arrangements. If this is your only income source, you may be overpaying significantly and should contact HMRC.
Emergency Tax Warning
This is often an emergency or temporary tax code. You might be paying too much tax while on this code.
Who gets this code?
Monthly-paid workers or pension recipients with secondary income awaiting correct tax code from HMRC.
Is it correct?
Check your latest P45 or Payslip to see if this matches your current situation.