News1 min ago
When will I pay tax - employed
6 Answers
Hi, I have just started a new job, I have not worked for a couple of years I have not claimed any benifits either as my ex husband supported me. Will I pay tax on my first wage?
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As a new employee you will either have a P45 from a previous job or you fill in a P46. Depending what boxes you tick on this form depends what HMRC tells employers to do, but the worst that happens is that you get a BR tax code. This means that tax is docked at a basic rate of 20%, not one third as suggested above.
Once you get a tax code assigned, the correction to your tax position will automatically happen.
As a new employee you will either have a P45 from a previous job or you fill in a P46. Depending what boxes you tick on this form depends what HMRC tells employers to do, but the worst that happens is that you get a BR tax code. This means that tax is docked at a basic rate of 20%, not one third as suggested above.
Once you get a tax code assigned, the correction to your tax position will automatically happen.
Assuming your slary is over �6475 you should expect to pay the same tax as anyone else on your salary . It's a new tax year now so the fact you earned nothing last tax year isn't relevant to this tax year. The tax will be based on your annualised salary less your personal allowance and the tax payments will be spread over the year. NI is also payable. See this online calculator
http://listentotaxman.com/index.php?married=0& widow=0&blind=0&student=0&c=0&yr=2009&age=0&ad d=0&code=&ingr=0&time=1&chart=0&payrise=0&exNI =0&gr=0&vw[]=yr&vw[]=mth&vw[]=wk&pension=0
http://listentotaxman.com/index.php?married=0& widow=0&blind=0&student=0&c=0&yr=2009&age=0&ad d=0&code=&ingr=0&time=1&chart=0&payrise=0&exNI =0&gr=0&vw[]=yr&vw[]=mth&vw[]=wk&pension=0