Tax question

zygurat789

When did you first start the part-time job?

rawkinrich

Started the part-time job about 5 years ago. Tax code is BR.

The tax code on the new full-time job is 747L.

Thanks for your advice guys, still a little confusing (as I mentioned, I'm daft when it comes to stuff like this) but we'll get there

CLAPTON

a BR taxcode is used where some-one has two jobs; one job has the tax allowance i.e 747L and the second has BR (which means you are taxed at 20% on all the income for that job)

your tax will work out correctly if your (new) main job will pay more than 7475 this tax year

rawkinrich

CLAPTON wrote: »

a BR taxcode is used where some-one has two jobs; one job has the tax allowance i.e 747L and the second has BR (which means you are taxed at 20% on all the income for that job)

your tax will work out correctly if your (new) main job will pay more than 7475 this tax year

Will I get taxed on the new full time job from now or will I start getting taxed after I get to the threshold?

AirlieBird

You get 1/12th of your tax free allowance each month. As you've not used any of your allowance this tax year you are due £5,606 of your tax free allowance. This will increase by £623 each month. So until your cumulative pay in your ful-time job goes above the pro-rata amount of tax free allowance due you will not pay any tax in your main employment.