Make £10 a Day Challenge November 2015 - everybody welcome

Aesop

mumstheword*** wrote: »

Aesop i'm an accountant - might be able to help with the payroll question?

Hi, ran out for school run.

someone I know, their partner has just started work, used to be self employed so not used to tax and stuff.

Anyhow, they are asking if they are going to receive £40,000 annual salary but only started work today, obviously new tax year april. How much tax will they pay from now until april? will they overpay tax and get a tax rebate or will they be pro rata months as only just started work. if that makes sense?

Aesop

oh dear Lynne. Was hoping you would get out before it got dark

Aesop

0.04p from cashbackers :rotfl: but it all helps

mumstheword***

Aesop wrote: »

Hi, ran out for school run.

someone I know, their partner has just started work, used to be self employed so not used to tax and stuff.

Anyhow, they are asking if they are going to receive £40,000 annual salary but only started work today, obviously new tax year april. How much tax will they pay from now until april? will they overpay tax and get a tax rebate or will they be pro rata months as only just started work. if that makes sense?

Here is the HMRC paye calculator link =
http://payecalculator.hmrc.gov.uk/PAYE0.aspx
And the NI
http://nicecalculator.hmrc.gov.uk/Class1NICs1.aspx
Base it on a gross of £3333.33 and unless there is something unusual about their tax code - I would use tax code 1060L and NI is non contracted out A (usually) - should give you a rough idea on a monthly basis.
There won't be any tax deducted for a while unless the have a P60 from previous employment with salary on that.

crv1963

Aesop wrote: »

Hi, ran out for school run.

someone I know, their partner has just started work, used to be self employed so not used to tax and stuff.

Anyhow, they are asking if they are going to receive £40,000 annual salary but only started work today, obviously new tax year april. How much tax will they pay from now until april? will they overpay tax and get a tax rebate or will they be pro rata months as only just started work. if that makes sense?

When I started mid tax year I went on an emergency tax code for a month then once they sorted it got a small rebate! NI is fixed rate, tax will be sorted by the second payday if monthly paid.

chasingdreams_2

Awesome news on the bank refund Aesop!

Had another item collected tonight for £15 so my total is £21.50/£150. I also acquired 50p from DH's pocket when doing laundry today, can i add that since i technically found it?

I'll join in on the ebay challenge, i haven't got free listings atm tho, i had mine last week. So i shall just save mine in drafts ready for next time. I will come in for 5 a day please. Not much but lots of sorting of baby clothes to do so will take a bit of time.

CountingPennies

26 quickie listings done (some re-lists)

CP xx

Aesop

Thankyou. Yes you can include washing machine roadkill

Great will add when on PC

chasingdreams wrote: »

Awesome news on the bank refund Aesop!

Had another item collected tonight for £15 so my total is £21.50/£150. I also acquired 50p from DH's pocket when doing laundry today, can i add that since i technically found it?

I'll join in on the ebay challenge, i haven't got free listings atm tho, i had mine last week. So i shall just save mine in drafts ready for next time. I will come in for 5 a day please. Not much but lots of sorting of baby clothes to do so will take a bit of time.

crazy_cat_lady

Evening everyone.
Long day, late finish and a bit stressed... so I must respectfully decline to join the mini eBay challenge as I don't have a spare second anywhere in this week for listing.
I have managed to get £11 today though - £10 from a lovely lady who bought dd's old Brownie uniform plus £1 coin on my classroom floor.
Aesop - that's fantastic news with your refund. :j

Jevvers

Wow Aesop well done!
I have sadly gone backwards - turned out the £20 promo code I thought I'd applied to an online grocery shop didn't go through AND they've charged me for a bag of salad but not delivered it. Did manage to get a free bag of satsumas after I pointed out to the delivery guy one was squashed tho. Still, it's a pain to have to call up and get this sorted, humph.
£69/300
On the plus side, free coffee from a full reward card worth £1.85.