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New employees tax code
hwalkerh
Posts: 307 Forumite
Just about to pay our first employees first wage. Set them up on Basic PAYE tools and worked out all the tax, NI and student loan.
Their tax code from their last job was 712L so this is what there new one will be following the instructions on the HMRC website.
Does this code not seem low? Should it not be the normal 747L?
I then checked my tax code to compare it and mine (not working for partners business) is 751L. now i am confused as that seems high?
Any advise or help to explain would be great
Their tax code from their last job was 712L so this is what there new one will be following the instructions on the HMRC website.
Does this code not seem low? Should it not be the normal 747L?
I then checked my tax code to compare it and mine (not working for partners business) is 751L. now i am confused as that seems high?
Any advise or help to explain would be great
0
Comments
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It is lower than norm but that's not your problem. You operate the code from the P45 and it's up to the employee to query it with HMRC.0
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747L is the standard code for most people, but can be varied based on the individuals circumstances. If the code you have been given is on the Employees P45 then this is the code you should use. If you are unsure how to process payroll you really should consider using a bureau or your accountant, as mistakes can be very costly!0
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