Part Time to Full Time- When is new Tax Code Issued.

Dandytf

I have a new start date 15th March next Mon'
From which point is a new tax code issued.
I was full time then part time 3 years approx, paying very little tax,
New job is 40hrs 5 days full time, I'de rather get ahead and let HMRC know sooner rather than later.
No personals details have been exchanged with latest employers, could be up to 4 weeks after training.
t.i.a. MSER's 

superbigal

Why would you get a new tax code ?  

Dandytf

superbigal said:

Why would you get a new tax code ?  

Is a new Tax code not required for change of Job/Hours.
Thanks, shall I wait until passing over my personal details to Employers, before updating Gov Uk online with my new Hours etc.
Thanks appreciated.

General_Grant

Dandytf said:

I have a new start date 15th March next Mon'
From which point is a new tax code issued.
I was full time then part time 3 years approx, paying very little tax,
New job is 40hrs 5 days full time, I'de rather get ahead and let HMRC know sooner rather than later.
No personals details have been exchanged with latest employers, could be up to 4 weeks after training.
t.i.a. MSER's 

You don't tell HMRC.  Your employer will be providing details to them - using some of the details you will have provided on a New Starter form and a P45 if you have actually left a job in this tax year.

The hours you work does not affect your tax code.

Dandytf

Thanks mser's
I seen the option of changing hours via .gov Uk earlier.
that's fine any new forms could be a while yet.
I also understand my prev' employers are issuing my P45 soon.

Marcon

Tax codes aren't affected by the hours you work; you still have the same personal allowance (currently £12,500 a year) as everyone else. You paid very little tax in previous years because you had smaller earnings from a part time job than you'll get from your full time job. 

Dandytf

Thanks mser's
Appreciate each response.
Hopefully I'll avoid Emergancy Tax situation.

General_Grant

Dandytf said:

Thanks mser's
Appreciate each response.
Hopefully I'll avoid Emergancy Tax situation.

If you don't present a P45 before your first pay is processed then you will be paid in an Emergency Tax Code situation.  However that is not going to be a problem as it will mean your will be assumed to have the standard tax code (1250 this tax year) which takes into account the personal allowance.  It would be applied on a weekly or monthly basis (depending on the frequency of your pay) rather than on cumulative basis.

Dandytf

@General_Grant
I Cannot guarantee if P45 will be sent pre pay.
With some luck my very recent finish date hopefully triggered p45 request.
If not it could run into April. 

General_Grant

Dandytf said:

@General_Grant
I Cannot guarantee if P45 will be sent pre pay.
With some luck my very recent finish date hopefully triggered p45 request.
If not it could run into April. 

Just remember to complete a New Starter form.  It will ask whether you have other work, student loan, that sort of thing. 

But you won't be paying 20% tax on your entire pay, only on the amount above £1042 (1/12th of the standard tax-free allowance for the year).  (That's assuming you are paid monthly.)

Edited to correct monthly figure - thank you @chrisbur

chrisbur

General_Grant said:

Dandytf said:

@General_Grant
I Cannot guarantee if P45 will be sent pre pay.
With some luck my very recent finish date hopefully triggered p45 request.
If not it could run into April. 

Just remember to complete a New Starter form.  It will ask whether you have other work, student loan, that sort of thing. 

But you won't be paying 20% tax on your entire pay, only on the amount above £104 (1/12th of the standard tax-free allowance for the year).  (That's assuming you are paid monthly.)

£1042 a month not £104
Also the emergency tax is only a guess it might work out right but can also sometimes result in under or over taxing which will be adjusted later, this near the tax year end might be next tax year.