We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Changing tax code during job change + mileage allowance question
hermand
Posts: 7 Forumite
in Cutting tax
Hi All,
I'm sure this is simple, but to be honest, tax is one of those things that I've just kind of accepted over the years without delving too far into it.
I'm changing jobs at the end of this month - I'll get paid a whole months salary from Apr, and then I'll start my new job in May which does make things slightly simpler.
However, in my current job, I'm both on a company car, company fuel and I also owe £300 odd tax from last year. As such, HMRC adjusted my tax code (Which began a month or so ago, I think) accordingly. They're taking an extra £30pcm, basically.
The thing is, with my new job, I don't get a company car or anything so I'll just be taxed normally. I do, however, get a decent payrise. So, I'm worried about the following scenarios:
1) Them just using my current tax code and me being taxed far too high (Like, hundreds of pounds too high) and having to try and claim it back
2) Them just giving me a 'normal' tax code and I end up still owing HMRC
Ideally, what I want to happen is to get taxed as normal, but also pay the £30pcm to HMRC. What do I need to do to make this happen?
=================
Second question - the company pay 40p per business mile. Is this taxable? If not, how do I work it?
I'm sure this is simple, but to be honest, tax is one of those things that I've just kind of accepted over the years without delving too far into it.
I'm changing jobs at the end of this month - I'll get paid a whole months salary from Apr, and then I'll start my new job in May which does make things slightly simpler.
However, in my current job, I'm both on a company car, company fuel and I also owe £300 odd tax from last year. As such, HMRC adjusted my tax code (Which began a month or so ago, I think) accordingly. They're taking an extra £30pcm, basically.
The thing is, with my new job, I don't get a company car or anything so I'll just be taxed normally. I do, however, get a decent payrise. So, I'm worried about the following scenarios:
1) Them just using my current tax code and me being taxed far too high (Like, hundreds of pounds too high) and having to try and claim it back
2) Them just giving me a 'normal' tax code and I end up still owing HMRC
Ideally, what I want to happen is to get taxed as normal, but also pay the £30pcm to HMRC. What do I need to do to make this happen?
=================
Second question - the company pay 40p per business mile. Is this taxable? If not, how do I work it?
0
Comments
-
Ideally, what I want to happen is to get taxed as normal, but also pay the £30pcm to HMRC. What do I need to do to make this happen?
Phone up HMRC and say you are changing job and no longer have a company car. They will adjust the tax code accordingly and still leave on the adjustment for the amount you owe.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.7K Banking & Borrowing
- 254.5K Reduce Debt & Boost Income
- 455.6K Spending & Discounts
- 247.6K Work, Benefits & Business
- 604.5K Mortgages, Homes & Bills
- 178.6K Life & Family
- 262.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards
