income tax question ?

teagan1966

hi
my bf was made redundent just over 18 mths ago, he did not sign on as he had a few savings 2 live off , can any one please tell me what happens when he starts his new job soon wheather it wll make any difference 2 his tax code ?
thanks

milkydrink

No with your personal tax allowance its a "use it, or loose it" set up.

The tax year has not long started & he will have his 5K (roughly) divided up over the 10 months he works between now (or job start) & 5 April 08.

Bean_Counter

As he has no P45 to produce, new employer should ask him to sign a P46, to state that this is his sole employment.

teagan1966

just wanted 2 thankyou 4 ur help
teagan

longforgotten

You said he lived off his savings. Did he have any tax deducted from the interest on his savings?

If he had unused allowances in the year he paid the tax on his interest then he can claim some tax back

Get certificates of interest then check with tax man.