Tax questions

Thomask

Hi

An agency I've started doing some work for have paid me without loading my P46 before putting through the payment. They have instead lost the P46. I'm going to send them another one. They claim the tax deducted from the payment they made would have been the same amount whether the P46 was recieved or not. Is this true?

Thomask

and a friend wanted to know what the BR tax code means?

Lokolo

No.

BR means Basic Rate which is saying the same as Emergency Tax.

Basically instead of the usually way of earning £6k before paying tax, you pay tax on everything.

However, if you have paid extra tax (which I would assume you have) then you can claim it back. However you need to wait until you are off emergency tax - so get that P46 in.

CLAPTON

Thomask wrote: »

Hi

An agency I've started doing some work for have paid me without loading my P46 before putting through the payment. They have instead lost the P46. I'm going to send them another one. They claim the tax deducted from the payment they made would have been the same amount whether the P46 was recieved or not. Is this true?

what tax code did they allocate to you?

CLAPTON

BR is base rate tax which means all income is taxed at 20%

Lokolo

CLAPTON wrote: »

BR is base rate tax which means all income is taxed at 20%

^^ geek

johnllew

Lokolo wrote: »

BR means Basic Rate which is saying the same as Emergency Tax.

BR is not the Emergency Tax Code; 603L is the Emergency Code (for paydays on or the 7th Sept 2008) which means being taxed on a non-cumulative basis with the basic Personal Allowance.

Thomask

I do lots of work for different companies. Sometimes I only work once for these companies.

I've noticed on many of the payslips from these companies, my tax code is listed as BR. Does this mean once they recieve my P46,
whether I'm still actively working for them or not, I'll start reciecving a 'release' of overpaid tax once paid to these companies via pay packets from the companies I'm activrly working for.

I'm trying to work out how to clean up my tax affairs. I want to make sure all employers, past and present, have deducted the correct amount of tax and if not put it right, in the form of a refund.
Can the tax department refund excess tax once paid to employer A, via employer B's pay packet if the employee no longer works for employee A?

Hope that makes sense

Thomask

Buuuuuuuump

Thomask

Anyboddddddddddddddddy know?

CLAPTON

if you have only one job at the time and your tax code is correct i.e. 603L (cumulative) then your tax will be correct... so your 'final' employer will 'refund' tax as appropriate if your code is correct.