can anybody help on my tax please

saoeuropean

Hi, i am completely newbie and as an IT guy got no idea on tax (so dont know what is what). my tax code is 747L. i got two jobs right now. can anybody suggest how can i settle my tax. From my first job i get around £500/month and the other one is around £1800/month. Can anybody suggest how i need to orient my job so that i can pay what i should pay?

Another thing is my first job which is £500/ month I don’t have any p60 or anything last 2 years. Any anybody help please? Whether there is anything I am deprived from by my manager and i should discuss with?

Mikeyorks

The 747L should be applied to the £1800pm job. And you should have Code 'BR' on the £500.

You can opt to split your personal allowance - but there's little point on those rates. As allocating circa £6000 allowances to the lower paid job may finish with unused allowances.

CLAPTON

if you have two jobs then you should have two tax codes... one for each job

what do your payslips say

how long have you had two jobs

why don't you have P60s for last tax year

getmore4less

you could phone HMRC and see if they want you to do self assessments.

Might be worth going back a few years to get everything upto date and a clean slate going forward.

saoeuropean

CLAPTON wrote: »

if you have two jobs then you should have two tax codes... one for each job

what do your payslips say

how long have you had two jobs

why don't you have P60s for last tax year

@ clapton i just joined the 2nd job(1800 one) last 2 weeks. now they are OK to pay as employe or i give them invoice each month as freelancer. but not sure which ok keeps me clean and i dont get BR code in my pay slip. to be honest!!

CLAPTON

saoeuropean wrote: »

@ clapton i just joined the 2nd job(1800 one) last 2 weeks. now they are OK to pay as employe or i give them invoice each month as freelancer. but not sure which ok keeps me clean and i dont get BR code in my pay slip. to be honest!!

sorry this makes no sense to me.

jem16

saoeuropean wrote: »

@ clapton i just joined the 2nd job(1800 one) last 2 weeks. now they are OK to pay as employe or i give them invoice each month as freelancer. but not sure which ok keeps me clean and i dont get BR code in my pay slip. to be honest!!

Your first and main job, as has been said, should have the main tax code of 747L. This should really be applied to your £1800pm job. However at the moment it is attached to your £500pm job.

Now that you have started your 2nd job, you should complete a P46 and tick Box C to say that you have another job. Code BR will iinitially be used. You will pay too much tax initially but you will get it back later.

Once you have received notification of the BR code from the tax office vai a P2 coding notice, then phone up HMRC and ask them to swap the two codes around so that 747L is on the £1800pm job and BR is on the £500pm job.

Now you can go sel employed and complete tax returns but I don't see the point if all can be handled easily through PAYE. It may just take a month or so to sort it out.