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Salary Payment Date And Tax Year
drlabman
Posts: 326 Forumite
in Cutting tax
Let's say you start a job in late March 2011, are paid monthly, but don't receive your first pay until towards the end of April 2011. Does that income count as 2010/11 or 2011/12 income, or pro-rata'd, for tax purposes? Just curious. Thanks.
Give a man a fish, and he will eat for a day. Teach him how to fish, and you’ll get rid of him every weekend.
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Comments
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2011/12 Tax is done on the pay date not for when it is earned.0
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It's the date your employer is meant to pay you (normally from your contract) ..... and the tax year that falls in. Not the date it hits your account
In the example you give - it falls entirely into 2011/12.If you want to test the depth of the water .........don't use both feet !0
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