Tax question – unusual wage increase, is this correct?
Yes that’s correct. Your tax code applies to all the money you’re paid from 6th April this year to 5th April next year and this week’s pay includes a rebate of a couple of weeks’ overpaid tax. You won’t get that much every week. You should have a notice of coding explaining why they’ve changed your code to 747L. That’s the normal code for someone with just a personal allowance. Just be grateful to Mr Cameron.
