What does a K tax code mean?
A K code is the opposite of a normal code. Instead of tax-free pay, an amount is *added* to your taxable income — because deductions (such as a company car or tax owed from an earlier year) are larger than your allowance. K475, for example, adds £4,750 to your taxable pay. By law a K code can never take more than half of your pay in a period.
England, Wales & NI, 2026/27. We compare your code with the standard 1257L.
On this code
2026/27A K code — it adds £4,750 to your taxable income, usually for untaxed benefits or tax owed from an earlier year.
- Gross salary
- £35,000
- Income Tax
- −£8,360
- National Insurance
- −£1,794
Take-home a year
£2,070 a month
£24,846
Compared with the standard 1257L code.
Verified · 2026/2721 June 2026
Effective rate —
Marginal rate — on your next £1
What it's worth in real terms
Your salary has the spending power of — in 2025 money — the pound has lost — since then. A rise of — would just keep pace.
Inflation: ONS Consumer Prices Index, latest May 2026.
How this was calculated
For the 2026/27 tax year (England, Wales & Northern Ireland) we apply your tax-free Personal Allowance, the Income Tax bands, employee National Insurance, and any student-loan repayment — each traced to a dated gov.uk/HMRC source. A pension contribution comes off before Income Tax (and before National Insurance too, for salary sacrifice). Over £100,000 the Personal Allowance tapers away, which is why the marginal rate jumps to about 60%.
The full method and every source is on our methodology page.
Built & maintained by the Pay Packet team · methodology sourced from HMRC · last reviewed 21 June 2026. About our figures →
Who has the K475 code?
People with taxable benefits in kind, those repaying tax owed from a previous year, or with untaxed income collected through PAYE.
Is K475 the right code for you?
A K code is often correct, but the number matters — check the breakdown HMRC sends and make sure the benefit or underpayment it reflects is real. Change the code in the calculator below to match yours.
Not your code? Decode any code on the tax code checker, or browse all tax codes. If you think yours is wrong, contact HMRC — you can reclaim overpaid tax for the last four years.