Handing P45 to new employers?
07 January 2004, 06:53 PM
#1
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Just started a new job and I need to hand in my P45 quick but i forgot to do it for the past few days.
How much extra tax would I have to pay if i dont hand it in?
My tax code is 461L.
Ray
How much extra tax would I have to pay if i dont hand it in?
My tax code is 461L.
Ray
07 January 2004, 07:16 PM
#3
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If you can prove you need specific equipment not supplied by your employer, such as boots, clothing, tools etc. Can soon add up to a grand or so that is exempt. Accountants please correct me or advise further.
07 January 2004, 08:45 PM
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IIRC the emergency tax code is 461L anyway so it shouldn't make much difference.
When you give the P45 to your employers, any over or underpayment will be corrected in the next monthly payroll run.
When you give the P45 to your employers, any over or underpayment will be corrected in the next monthly payroll run.
07 January 2004, 09:01 PM
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if you don't hand in a P45 you will be bunged on the emergency tax code and sent an earnings form. The IR will then work out your tax code depending on what you have earnt previously that year and your new salary, you will then get a rebate with the next pay cheque, assuming you have over paid!
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