It is normal for each new tax year to bring a new tax free personal allowance which is reflected in each tax payers tax code. Many people will receive a new tax code notification also known as a form P2 in the post from HMRC in the near future. The notice of coding will explain what your new tax code will be in the new tax year which starts on the 6 April this year.

If you are a basic rate tax payer it should be good news with the tax free personal allowance being increased, which means you will pay less tax in the new tax year.