Emergency Tax issues

h63298

:money: Please can someone help me to calculate how much I will take home in my first month of my new job as Im concerned about paying my mortgage and bills as I will be on emergency tax for my first month.

My annual salary is 45,000

Many thanks!

mrkbrrws

Assuming a full month's gross pay of £3,750, listentotaxman.com throws out a net pay of £2,710.

Are you waiting for a P45?

h63298

Hi thanks for this. Yes I was happy with what my monthly normal take home would be but no idea how much im likely to lose in my first month due to emergency tax and I cant find a calculator for it anywhere?

Do you have any idea? Yes I leave my current employer at the beg of Nov and due to thsi they cant send to me my P45 till the end of November which will be too late for my first pay with my new employer.

Many thanks

mrkbrrws

The listentotaxman.com calculator gives the monthly calculation on the same basis as the emergency code.

Have you completed a P46 and what did you tick on it? If you said you had another job then a BR code will be used, not the emergency code, and the Income Tax will be 20% of the gross pay (NICs will be as on listentotaxman.com).

h63298

You know what I am not sure if i did. I have not started there yet? I will have a look into this. so if i did then my full salary would be at 20% or just up to the higher rate bracket?

Many thanks for your help!!

mrkbrrws

If BR code is used then the whole salary is taxed at basic rate.

Is your last pay day with the current employer 31 October and the first pay day with the new employer 30 November? What is your current tax code?

h63298

Yes my last pay is the 31st October for a full month. However I am being paid by my current employer up to the 7th November at the end of November which is when I will receive my P45. Im not sure of my current tax code as I dont have my last payslip with me?

Thanks again