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End of tax year query
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merlin321
Posts: 44 Forumite
in Cutting tax
Hi, I am planing to retire at the end of the current tax year. I have a Sipp that I will use up to tax allowance for 1st 2 yrs. So would like to finish work as close as possible to end of tax year.
Pay is calculated on a month by month basis, so if I work the first few days of April, I am earning in old tax year. However company pay on the end of the month. Which year is tax owed?
Pay is calculated on a month by month basis, so if I work the first few days of April, I am earning in old tax year. However company pay on the end of the month. Which year is tax owed?
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In the scenario you describe it is the tax year the payment is made in that the income relates to.0
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