Tax code; ot wk1

chocolatebar2009

Hello
I just started a part time job, my first pay slip shows OT WK1
I am self employed - this is my main job
The part time Job is a 2nd job

can anyone explain what the OT WK1 is/means as I paid £101.80 tax
many thanks

carla981

Hi this means that you are being taxed at the starting rate of tax so 20% deductions then 40% over a certain amount you are receiving no personal allowance so are definatley overpaying. what is the tax code at your second job?
You need to telephone HMRC and they will sort it out and issue a new code, any overpaid tax will refund via your wages.

jem16

chocolatebar2009 wrote: »

Hello
I just started a part time job, my first pay slip shows OT WK1
I am self employed - this is my main job

Then assuming your self employed earnings are greater than your personal allowance, all your tax-free allowance will be set against those earnings.

The part time Job is a 2nd job

can anyone explain what the OT WK1 is/means as I paid £101.80 tax
many thanks

Did you complete a P46 when you started your 2n job? If not make sure you do. Normally a 0T tax code would be used if you have not completed a P46 or handed in a P45 (in your case not applicable). Once you do complete a P46 HMRC will issue a proper tax code.

However 0T is going to work out correctly anyway assuming you are earning over the personal allowance in your self-employed job.

jem16

carla981 wrote: »

Hi this means that you are being taxed at the starting rate of tax so 20% deductions then 40% over a certain amount you are receiving no personal allowance so are definatley overpaying.

The OP will be receiving a personal allowance via his self employed earnings and self assessment so is unlikley to be overpaying unless self employed earnings are less that £8105.

carla981

Unless you have asked on your tax return your personal allowance will always be offset against any paye income and any self assesment bill will be worked out from your annual tax return. I worked in hmrc for 7 years on paye and this is always the procedure your personal allowance is always against any PAYE income first of all anything from SA is then worked out at the end of the year.
Give HMRC a ring and discuss it with them!!

chocolatebar2009

hy thanks to all, let me clarify; sorry I fi havnt made myself clear

My main job is self employed crafter, it ha sbeen a bad year, in debt etc so incomne has dropped and est year to show about £250 to £300 profit, overall turnover less than 9k

I had to start a part time job to keep things going, this is the 2nd job that I have the OT WK1 tax and paid tax on. so do I ask for a P46 from the Tax office?

My SA wont be sent to Tax office until sept/oct this year?

will tax office give me a new code or us ethe OT WK1, many thanks

jem16

chocolatebar2009 wrote: »

I had to start a part time job to keep things going, this is the 2nd job that I have the OT WK1 tax and paid tax on. so do I ask for a P46 from the Tax office?

No the employer should have asked you to complete a P46. You can download one from the HMRC website and hand it to your employers but it shouldn't have been necessary. When did you start and did they not ask you to complete anything?

How much are you earning at your part time job?

will tax office give me a new code or us ethe OT WK1, many thanks

The tax office will issue a proper tax code without the WK1 suffix once they have your details and the employer's details. That's why the P46 is important.

As you have your first payslip and therefore the employer's tax reference you could try phoning HMRC and see if they will sort your code over the phone.

chocolatebar2009

Thanks Jem16
Let me put you in picture, Facts;
1] Employer did not give me a P46, Induction was to tick a box of 3;
a] No previous work-unemployed and has no P45
b] Has main Job or previous employment has a P45
c] has pensions or other no P45
so I was told to tick the 3rd option?
I started about 4 weeks ago, my first payslip, hrs are 15 per week, 2 nights, It seems anything to do with wage is coded within company but sorted in an office in India?

Tax was £101.80
NI-A was £8.61
Employer cont NI £10.74
There is a Tax ref which I found to be the tax office in scotland that the company deals with

Not much I can do till MOnday
so If I down load the form, fill it in etc phone Tax office, I give the details to manager to sort out through the wages enquiry?
I think
let me know if this is right?

So My income from SE will go onto my SA form and also the Employed part, the Tax office will sort it when I send it off in Sept/Oct?

chocolatebar2009

sorry Jem I forgot to add;
I earn £399 Basic for 60 hrs + any overtime that may arise
hope this helps

jem16

chocolatebar2009 wrote: »

Thanks Jem16
Let me put you in picture, Facts;
1] Employer did not give me a P46, Induction was to tick a box of 3;
a] No previous work-unemployed and has no P45
b] Has main Job or previous employment has a P45
c] has pensions or other no P45
so I was told to tick the 3rd option?

These questions are more or less following the 3 questions on the P46. It may be that your employer then transfers your answers onto the online filing of the P46. So it looks like a P46 was completed.

However ticking Box C ( or the third box) on a P46 should see code BR being used unless section 1 is not completed. Section 1 is your details.

See the P46 here.

http://www.hmrc.gov.uk/forms/p46.pdf

so If I down load the form, fill it in etc phone Tax office, I give the details to manager to sort out through the wages enquiry?
I think
let me know if this is right?

From what you say you won't need to download a P46 so just give HMRC a ring. If they have your details it should be easy enough to sort.

So My income from SE will go onto my SA form and also the Employed part, the Tax office will sort it when I send it off in Sept/Oct?

Your SA form in Sept/Oct will be for last tax year, 11/12 so you would enter employment that you have only started this tax year.

chocolatebar2009 wrote: »

sorry Jem I forgot to add;
I earn £399 Basic for 60 hrs + any overtime that may arise
hope this helps

I'm assuming the £399 is per week as you say you are on a Wk1 tax code. So basically around £20748pa.

Do you plan to keep on this 2nd job? If so your personal allowance is probably best on this.

chocolatebar2009

Hy again Jem 16
Sorry I should have explained, the part time is 15 hrs [2 nights] per week the 60 hrs is the 4 weeks that I get paid lolol if only I had a PT job that gave me 20k, Id be rich bynow lol, thanks so much for help and hope my dumb q`s, may help others in same situation, I will phone HMRC tomorow;
Now Q, Is it my Tax office as SE doing SA I ring or is it The Employers Tax office?