P46/P45 advice

vicki_b

my partner started a new job and we are waiting for his wage next week, he didn't hand in his P45 as it has just arrived, but he filled in a P46, could he still get emergency taxed?or does he have to hand his P45 too?

antonic

He will get taxed at the Emergency Tax rate until he hands his P45 to his new employer, as his new employer will not know how much he has earned/tax deducted in his old job.

If he overpays at the start, any overpayment will be repaid to him.

ceeforcat

vicki_b wrote: »

my partner started a new job and we are waiting for his wage next week, he didn't hand in his P45 as it has just arrived, but he filled in a P46, could he still get emergency taxed?or does he have to hand his P45 too?

Do you know which box he ticked?

vicki_b

box B, he has worked before but this is his ONLY job now

ceeforcat

He should be fine with each pay taxed using the current common code of 747L but on a weekly/monthly basis i.e. without taking into account previous earnings for the tax year.

Pennywise

ceeforcat wrote: »

He should be fine with each pay taxed using the current common code of 747L but on a weekly/monthly basis i.e. without taking into account previous earnings for the tax year.

But still potential for underpayment if his earnings go into higher rate tax or the pay week/month of both jobs overlap in the changeover month and he ends up getting two weeks/months of allowances instead of one. Best to hand in the P45 as soon as possible.