RoShamBo

iTrader: (1)

Does anyone know about emergency tax codes, specifically when you start a new job?
I left my job last job in March, and have now started a new job today (so a 4 month break, not officially in employment, not claiming benefits or anything)
Will I be put on an emergency tax code? And any idea what this is? My new employer wants my P45 so will this list my “proper” tax code (I guess?) so they can submit this code & get it right from day 1 rather than do an emergency tax code then have to then adjust any shortfalls or over paid tax when the right one is used ?
I pay 40% tax when employed (have done for years now)

Anyone know how it all works?

R.

RichWalk

If you use PAYE software you cant enter a P45 from a previous tax year-you will need to fill out a P46 give it to your company andthey will send it off to the HMRC local office after your first wage payment. You will normally go on the 'em tax code which is 503L at the moment. The Tax office will then send your employer a new tax code advise for you.

Diablo

Ro,


An emergency tax code basically does not take into account any personal allowances, adjusted as appropriate.

If you are on a K code (where the value of your taxable benefits is greater than the value of the personal allowance) an emergency code is actually better until you get the code amended to suit your new circumstances as you will pay less tax than you would under the K code.

Scooby Snacks 23

I thought the emergency tax code had been abolished? Upon entering a new job, they tax you on the basic 22% rate unless they have an appropriate coding notice.

If that's not the case, it's just the way my company does it!!

Midlife......

iTrader: (2)

Likewise, I thought people started on a "BR" code and moved from there, I presume the BR stands for Basic Rate which is 22%

Shaun

MattW

BR codes are used only where a p46 is completed and the employee ticks that this is NOT their only or main job.