Who understands income tax can help me out ...

  Mary_S 13:36 20 Jun 10
Locked

Dear All,
I have just completed my first week at a new job and was hoping someone who knows about the tax system can tell me how much I should be getting taxed.
My job is a 3 month temporary assignment where I will be earning £8.00 an hour, approx 35 hours a week. So I would expect to bear earning £280 a week, £1120 a month , £3360 for the 3 months.
I have had a look here click here.

Theres an allowance of £6450 for the year so does that mean I wont be tax seeing im on a 3 month assignment and I im not not sure whether I be on 10% savings or 20% BR.

Thanks in advance.

Mary

  Kevscar1 13:59 20 Jun 10

Until the paperwork is sorted out you will be charged emergency rate flat 25%.
When it's done and your tax code is sorted out you will get a rebate

  961 14:07 20 Jun 10

You need an emergency code on a non cumulative basis if you have not had a job in this tax year (since 6th April 2010)

Fill in this form and give it to your employer

click here

If you have had a job your previous employer should have given you a p45 which you should now give to your new employer instead

You will probably pay tax each week on the emergency code basis described above using a code which will take off tax at (roughly) £13440pa earnings, minus personal allowance £6450 = about £8000 per annum less tax at 20%=£1600 divided by 52 (weeks) = about £30 tax per week

So you can expect £280 less about £30 tax and less national insurance

click here

  Mary_S 14:57 20 Jun 10

hey guys thanks for getting back.
Its not my first job this year. I resigned from my previous position the week before I started this job. Im getting in touch about my p45 from previous employer tomorow. Im workign thorugh an agency , when i filled in p46 i ticked that i have another job because i though i might be working weekends while i start my new job but thats not the case as i fully resigned from my previos position before i started new job.

  Mary_S 14:57 20 Jun 10

hey guys thanks for getting back.
Its not my first job this year. I resigned from my previous position the week before I started this job. Im getting in touch about my p45 from previous employer tomorow. Im workign thorugh an agency , when i filled in p46 i ticked that i have another job because i though i might be working weekends while i start my new job but thats not the case as i fully resigned from my previos position before i started new job.

  961 15:24 20 Jun 10

In that case get the p45 asap

I guess it's the agency that will be doing your tax in which case ask them not to submit the p46 for a day or so while you try to get the p45 as that will sort your tax much quicker

In any case see if you can recover the p46 and if necessary submit a new one without the tick for another job

It's often difficult to sort these things quickly with the revenue being so slow these days. You'll get the money back eventually but you actually need it now, don't you?

  wee eddie 15:43 20 Jun 10

When you worked for the Agency ~ Who was paying your wages? The Company or the Agency.

Is this job through the same Agency ~ In which case ~ Who will be paying your wages? The Company or the Agency.

  iscanut2 18:49 20 Jun 10

At the end of the day, if your taxable earning do not exceed the personal allowance of £6450, then you are not liable for any income tax at all. As others have said, you may initially pay tax, but this should be refunded to you when & if you make a return and claim it back.

  Kevscar1 08:09 21 Jun 10

iscanut
no need when the company recieve her proper tax code the refund is done straight away on her next wage slip.

  birdface 09:25 21 Jun 10

It roughly means that you can earn about £125.00 a week before paying tax.
On that wage you would be paying about £30-£40 a week on tax.Then off course you would have to pay National Insurance as well.
As it is only a temporary job and providing you were not expecting to work any more in the coming year you should not have to pay any tax.
Now if you have been unemployed and receiving benefits that will be included in how much you have earned for the year so will affect how much tax is then payable if any.
Now that is the way I would have worked it out if I was trying to figure out how much tax I would be expecting to pay.

  chrismarklee 06:38 30 Sep 11

Keep it simple do your W4 with the correct holding amounts. i see many people playing around with W-4 during the year

Chris Owner CEL Financial Services Please visit my website for all your Fillmore income tax needs.

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