tax question

[Gumbo]

Oooh, also if you're paid 4 weekly you'll get 13 paydays a year not 12, that's worth bearing in mind too.

 

[tris-]

When you have 2 jobs at the same time you receive your personal allowance and pay NI on one of the jobs and you have a tax code of BR (i.e. basic rate) for the other job which means that you pay tax at a flat rate of 22% in this 2nd job and also don't pay NI on this 2nd job as you have already paid NI on the first job. If you happen to reach the higher rate tax limit over the two jobs the revenue will adjust your tax code in the following year or it will be reported via your tax return if you file one.

i have one permanent job which i know the shifts for every week. the other job is casual i may work 1 day or not at all. i have the tax code BR for my permanent job. is there anyway the tax codes can be switched around so my casual job is BR and my permanent one uses my personal allowance?

 

[Vae]

I assume you had the casual job first. It would be a pain to swap the tax codes around during a tax year without each business effectively P45ing you and re-adding you to their payroll system.

Depending on how much you earn from each job you may even be in a better position.

If you earn more in the permanent job than in the casual one then you are effectively saving NI since you are paying NI on your lesser income job. As long as you are earning >£7455 in your casual job then you are paying the correct tax overall. If you earn <£7455 in your casual job you effectively have either some tax free allowance or 10% tax band left that overall for the year should be set against the 22% tax you're paying in the permanent job. This may mean you can claim some tax back at the year end.

 

[JingleBells]

I didn't bother filling the form 38 in after completing my placement year, so when I started my job after graduating, I got a letter from the inland revenue asking me what I'd done for the last 12 months. I told them I was back at uni (and thus earning nowt), and a few days later a large cheque came from the Inland Revenue for the tax they owed me

 

[Gumbo]

This thread prompted me to chase my rebate due from the end of the tax year and around the £600 mark. I first chased it in May, then June, and now they say it should be just another 3 weeks or so. They don't move awfully fast when they owe you money...

 

[Ch3tan]

Oooh, also if you're paid 4 weekly you'll get 13 paydays a year not 12, that's worth bearing in mind too.

Yeah thats what I was getting at, I was looking at the wages per month column, and thinking I'm getting shafted here! Then I remembered I had an extra pay day to get the difference back

 

[MYstIC G]

This thread prompted me to chase my rebate due from the end of the tax year and around the £600 mark. I first chased it in May, then June, and now they say it should be just another 3 weeks or so. They don't move awfully fast when they owe you money...

Look on the bright side, the longer they take, the more interest you get.

 

[Pfy]

Yeah thats what I was getting at, I was looking at the wages per month column, and thinking I'm getting shafted here! Then I remembered I had an extra pay day to get the difference back

I get paid every 4th week too. Don't you think it's much better? apart from Direct Debits and stuff ...

 

[Clown]

I like being paid every 4 weeks. I don't run out of money for direct debits and stuff, because we get money every month anyway. Sometimes we even get paid twice a month!

 

[Ch3tan]

Yes, it is better. I enjoy the extra pay day every year

 

[tris-]

last night i got a p46 off my main job. ive got 3 options, the two relevant ones being

1) this is my only job
2) i have another job (reverse of sheet says to use tax code BR for this)

it doesnt seem right though, considering my casual job is going to use BR too, i will get taxed about 40% of my wages! if i tick option 1 should i be safe? i assume my employer should of gave me this form when i started, so then it would of been my only job.

 

[Vae]

Tris your assumption is correct. Complete the form ticking box A, dating and signing as at the date you started work as though you filled the form in then. You will then get your personal allowance in this job and pay Basic rate tax (BR) on your other job.

 

[tris-]

hmm shit, i dated it with yesterdays day, is that important?

 

[Vae]

No shouldn't be. Essentially ticking box A means that this job will receive your personal allowance. The only issue is that you've dated it yesterday declaring that this is your only job (which it isn't as of yesterday but it was when you started) but this is kind of irrelevent as it was your only job when you started it and the job on which you should receive your peronal allowance. The date shouldn't be an issue.