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New Job crossing over pay from old job
JCR1987
Posts: 134 Forumite
Hi folks,
just a quick query on where i stand as regards tax liability, and legalities, etc.
My current employer is in a period of financial insecurity in that they are going to be subjected to financial and staffing cuts in the very near future.
As i can see my role likely to be one of the first casualties, i have asked for voluntary redundancy, partly due to the fact that I have a contact who is keen to employ me but we have never taken it past the 'maybe' stages... until now.
My current employer has denied the request for voluntary redundancy as they would have to offer the same to the entire organisation, however out of recognition of my service over the past 10 years, they have said that if i still wished to resign, they would pay me for the forthcoming 2 months in addition to this month's pay (which actually works out to about the same as my redundancy would have).
What i need to check is, if i work my notice and finish at the end of this month (November) and then gain a new employment in December or January, because i am still technically being paid by my current employer for the next 2 months (they won't pay me a lump sum up-front) how does this affect my pay status as i won't receive a P45 until my last payment date in January by my current employer.
Can i be paid by both employers?
just a quick query on where i stand as regards tax liability, and legalities, etc.
My current employer is in a period of financial insecurity in that they are going to be subjected to financial and staffing cuts in the very near future.
As i can see my role likely to be one of the first casualties, i have asked for voluntary redundancy, partly due to the fact that I have a contact who is keen to employ me but we have never taken it past the 'maybe' stages... until now.
My current employer has denied the request for voluntary redundancy as they would have to offer the same to the entire organisation, however out of recognition of my service over the past 10 years, they have said that if i still wished to resign, they would pay me for the forthcoming 2 months in addition to this month's pay (which actually works out to about the same as my redundancy would have).
What i need to check is, if i work my notice and finish at the end of this month (November) and then gain a new employment in December or January, because i am still technically being paid by my current employer for the next 2 months (they won't pay me a lump sum up-front) how does this affect my pay status as i won't receive a P45 until my last payment date in January by my current employer.
Can i be paid by both employers?
0
Comments
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Yes you can be paid by both employers. You may temporarily end up paying more tax than you should, but once you provide your P45 to your new employer, that will all be resolved through PAYE over the next couple of months.0
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