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Your tax code is calculated by HMRC and is used by employers or pension providers to work out how much income tax to take from your pay or pension. A tax code is made up of letters and numbers and is usually shown on your payslip.
1150L is the standard tax code issued for the 2017/18 tax year and is used for most people who have one job or pension. The numbers in your tax code show how much tax free income you are entitled to in the current tax year. To work this out you need to multiply your tax code by 10 as the last digit is removed. If you are on a tax code of 1150L your tax free personal allowance for this tax year will be £11,500.
The letters in your tax code refer to your situation and how it will affect your personal allowance. The L suffix means you are under 65 and entitled to the standard tax free personal allowance.
For more information on what each letter means on your tax code please follow the link below –

https://www.gov.uk/tax-codes

There are a number of reasons why HMRC will adjust your tax code, for example if you have more than one employment, taxable benefits in kind, pension or taxable state benefits on which you owe tax. It is really important that your tax code is correct to so that you pay the correct amount of tax through the year. It is your responsibility as an individual to check your tax code and not your employer or payroll provider. If your tax code has been adjusted and you do not know why or there has been a change in your circumstances, you should contact HMRC directly.

From 1st October 2017, if you have started a new business and are taking on a member of staff or if you have recently employed someone for the first time, your automatic enrolment duties will have already begun.
Your duties start from the day your employee starts work. You must assess them to see if they meet the age and earnings criteria to be put into a workplace pension scheme, which is as follows:
• aged between 22 up to State Pension Age
• and earn over £10,000 per year or £833 per month
• or £192 per week
If they meet the criteria, you will need to choose and setup an automatic enrolment pension scheme for you and your staff to pay into, to help save towards their retirement.
If you do not have anyone to put into a pension scheme, you’ll still need to write to your staff and tell The Pensions Regulator how you have met your duties.
If you have already received a letter from The Pensions Regulator about automatic enrolment don’t ignore it, you have legal duties to meet!
Automatic enrolment is the law, The Pensions Regulator has lots of useful information online and the duties checker will help you find out what tasks you need to complete and the deadlines involved. Visit www.tpr.gov.uk/newemployers to get to know your responsibilities.