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Tax - TSR guide and questions thread

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Original post by Knalchemist
Most people get emergency taxed on the first job. Usually because you haven't been allocated a tax code yet. In 1-2 months time you'll get a proper tax code and an automatic refund.

It usually works this way when people get a job for the first time, or if they haven't worked in a while (and not claimed benefits).

Posted from TSR Mobile

The reason why this might happen with a first job isn't directly due to it being a first job, but more as a consequence of not having a form P45 - with details of you tax situation - from a previous job to hand to your new employer. What should be happening is that the new employer asks for completion of a 'Starter Checklist' to capture the necessary details, which should then allow them to determine the appropriate tax code to use. Unfortunately, this doesn't always work as it should.
Original post by KyleSmith
Thank you both.

This is my second job, I worked at House of Fraser for two months and earned 1096. I got given a P45 when I left. I claimed JSA for 5 weeks then handed the P45 to Cineworld, since then I got emergency taxed even though I handed it in and then got that new 'BR' tax code letter in the post 2 days ago. I'll phone them though. Thanks

Note in terms of nomecalture that "BR" isn't actually the emrgency tax code (source), but what you're saying about its effect here is correct. I can't explain why you have a BR code despite handing in your form P45, but to get the position resolved, you are going to need to contact HMRC, as suggested above. There's a complication to draw out here, though - the 2013/14 tax year has just ended (on 5 April), which means that you're looking at claiming a refund for a previous tax year. Hopefully HMRC won't need additional documentation from you for this, but it's possible that they may need a copy of the form P60 that you should receive from your new employer in due course, by 31 May at the latest.

To get the position resolved going forward, you need to consider the tax code that you have for the new tax year (2014/15), which won't necessarily be the same as for 2013/14. You can ask about this when you speak to HMRC, but it would be worth checking what tax year is specified on the coding notice that you received, before you speak to them.
Hey everyone, I'm supposed to start working as an intern in June and I'm currently in the process of signing my contract and everything else that comes with it including a P46. I have been working as a campus ambassador for another company since September last year and have earned about £130 since then (this it's hardly going to increase as I have not been asked to do anything at all this term).

Does anyone know which statement I would have to tick on the P46 under "Your present circumstances" in this case? I know it's a bit of a long shot, but I'm kind of lost. :/

Original post by ohdrama
Hey everyone, I'm supposed to start working as an intern in June and I'm currently in the process of signing my contract and everything else that comes with it including a P46. I have been working as a campus ambassador for another company since September last year and have earned about £130 since then (this it's hardly going to increase as I have not been asked to do anything at all this term).

Does anyone know which statement I would have to tick on the P46 under "Your present circumstances" in this case? I know it's a bit of a long shot, but I'm kind of lost. :/



£130 :lolwut: is that it?

How did you receive that? Are you on their payroll? (Do you get payslips?)
Original post by ohdrama
Hey everyone, I'm supposed to start working as an intern in June and I'm currently in the process of signing my contract and everything else that comes with it including a P46. I have been working as a campus ambassador for another company since September last year and have earned about £130 since then (this it's hardly going to increase as I have not been asked to do anything at all this term).

Does anyone know which statement I would have to tick on the P46 under "Your present circumstances" in this case? I know it's a bit of a long shot, but I'm kind of lost. :/



Are you still currently doing this? Is it actually a formal employment, or some other arrangement?

You'll see that the form refers to a date of 6 April - if this income and the role was entirely before this (i.e., 6 April 2014), then they wouldn't be relevant for your current year income tax position so that you'd be under the circumstances for box A.
Original post by Runninground
£130 :lolwut: is that it?

How did you receive that? Are you on their payroll? (Do you get payslips?)


Umm, yeah. I get paid £7.50/h, but since they've decided not to attend careers fairs up where I go to uni this year there really wasn't a lot of work for me to do which is absolutely fine.

I got paid at the beginning of the year for the work I have done since September. I got a "remittance advice" letter in the post and the money got transferred to my bank account (that's all I know, sorry).

Original post by Illusionary
Are you still currently doing this? Is it actually a formal employment, or some other arrangement?

You'll see that the form refers to a date of 6 April - if this income and the role was entirely before this (i.e., 6 April 2014), then they wouldn't be relevant for your current year income tax position so that you'd be under the circumstances for box A.


Yes, I am still doing this job although there hasn't been a lot of work this term so I haven't really made any money since earlier this year.

Well, the contract is a "consultancy agreement" running from 20 September 2013 to 30 June 2014. They might consider giving me a new contract after that for a further 12 month period which is something I would accept.

It's probably worth mentioning that I have not filled out a P46 or any other tax form for the campus ambassador job. They didn't even want me to get a NINO (currently in the process of getting one for the internship though as they ask for it on literally every single document I have to sign before I start).


I'm really sorry if this is a bit vague, but I don't really know anything about taxes and forms etc. I do appreciate both of your help though, so thanks! :smile:
(edited 9 years ago)
Original post by ohdrama
Umm, yeah. I get paid £7.50/h, but since they've decided not to attend careers fairs up where I go to uni this year there really wasn't a lot of work for me to do which is absolutely fine.

I got paid at the beginning of the year for the work I have done since September. I got a "remittance advice" letter in the post and the money got transferred to my bank account (that's all I know, sorry).

Yes, I am still doing this job although there hasn't been a lot of work this term so I haven't really made any money since earlier this year.

Well, the contract is a "consultancy agreement" running from 20 September 2013 to 30 June 2014. They might consider giving me a new contract after that for a further 12 month period which is something I would accept.


I'm really sorry if this is a bit vague, but I don't really know anything about taxes and forms etc. I do appreciate both of your help though, so thanks! :smile:

Okay, well strictly this sounds to me like a "second job" situation (i.e., situation C); however, this by default would result in you having no personal allowance allocated to this new job (on the basis that it's already fully allocated to your existing job, with income tax payable on all of the new job's income. Given what you've said about your likely pattern of income from each job, this is unlikely to be ideal and could lead to you overpaying tax (albeit that you'd be able to reclaim this later).

Have a ready of this page, then I'd suggest that a call to HMRC would be best to resolve things here: http://www.hmrc.gov.uk/students/two_pt_jobs_pa_on_both_9_3.htm
Hi,

Just a quick question, in savings accounts, the interest you receive is taxed if you earn over the minimum tax threshold (£10,000?) but does Student Finance Loans/Grants count towards this?

Thank you
Original post by Fortitude
Hi,

Just a quick question, in savings accounts, the interest you receive is taxed if you earn over the minimum tax threshold (£10,000?) but does Student Finance Loans/Grants count towards this?

Thank you

No, those loans and grants won't be taxable income.


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Original post by Illusionary
No, those loans and grants won't be taxable income.


Posted from TSR Mobile


Thank you
as illusionary says ring HMRC

get the intern job put as you main job and attracting your personal allowance and put the 'campus ambassador' as a second job

how much do you expect to get from the intern post ?
I claimed a tax refund about 4 weeks ago but I never got given a p45 form from my employer. I called hmrc and was told this was okay but I'm worried. I really need that money back :/

What do people think?
(Pretty please quote when replying)
Thank you!!
Original post by Jenniferann232
I claimed a tax refund about 4 weeks ago but I never got given a p45 form from my employer. I called hmrc and was told this was okay but I'm worried. I really need that money back :/

What do people think?
(Pretty please quote when replying)
Thank you!!

Well, first of all, you should speak to your employer and insist on receiving a form P45 - you're legally entitled to this and it's an important record to keep. However, you don't necessarily need a form P45 to support a claim for a tax refund, as HMRC may already have all of the information that they need; if they've said as much in this instance, you shouldn't need to worry.

What tax year was this claim in relation to?
Original post by Illusionary
Well, first of all, you should speak to your employer and insist on receiving a form P45 - you're legally entitled to this and it's an important record to keep. However, you don't necessarily need a form P45 to support a claim for a tax refund, as HMRC may already have all of the information that they need; if they've said as much in this instance, you shouldn't need to worry.

What tax year was this claim in relation to?


Ok if I don't necessarily need one that's calmed me down a bit :biggrin: I'll get one from them though.

The last one, 2013-14 :biggrin:
Original post by Jenniferann232
Ok if I don't necessarily need one that's calmed me down a bit :biggrin: I'll get one from them though.

The last one, 2013-14 :biggrin:

That sounds fine. :yy: If you want some reassurance, take a look at this page from HMRC: http://www.hmrc.gov.uk/incometax/overpaid-thro-job.htm#2

You'll see that it doesn't now refer to sending a form P45.
How long does it normally take to get a tax refund? I sent the forms off on the 14th June. I need some of that for rent money :frown:
Original post by Jenniferann232
How long does it normally take to get a tax refund? I sent the forms off on the 14th June. I need some of that for rent money :frown:


It'll depend on how busy your tax office is at the time - I'd expect a minimum of a few weeks. I'd suggest that you make a quick call to the HMRC helpline and ask about the status of your application.
Original post by Illusionary
Well, first of all, you should speak to your employer and insist on receiving a form P45 - you're legally entitled to this and it's an important record to keep. However, you don't necessarily need a form P45 to support a claim for a tax refund, as HMRC may already have all of the information that they need; if they've said as much in this instance, you shouldn't need to worry.

What tax year was this claim in relation to?


Hi, just wanted to say thanks, been reading the main page and your replies, big thanks on behalf for helping others. I might have some questions later


But can I ask your background, I, guessing your a tax accountant? Correct

How is the work and life balance as a tax accountant
Original post by krisshP
Hi, just wanted to say thanks, been reading the main page and your replies, big thanks on behalf for helping others. I might have some questions later

But can I ask your background, I, guessing your a tax accountant? Correct

How is the work and life balance as a tax accountant

No problem at all. :smile:

Tax adviser rather than tax accountant - the work's a fair amount wider than just the accounting elements - but you're close. You'll be better off posting a thread in the Careers section for views about the nature of the role, but in terms of work/life balance it's not bad at all. I work at a large firm with several different 'service lines' (audit/assurance, tax, transaction advisory, etc.) and tax is probably where you'll find the most regularity in hours (it needn't go that much beyond 9.00-5.30 most days), though there will always be some busy times - the end of March and the end of December in particular.
Hi guys,

I have some questions to ask as I've never paid any attention to this stuff but I'm now wishing I did.

Ever since I have been employed as a sales assistant (25 hours p/w) - I have been on the tax codes 801L and then 944L, every single one of my payslips say 0.00 but there is always a small amount for National Insurance.

1. Sadly, I don't understand what this means? Why was I not taxed? (Because I was a student maybe?).

2. What exactly do tax allowance mean? - For example, £10,000 so from January to 2014 until November 2014 I earn £1,000 a month so does that mean December 2014 until April 2015 I will pay tax?

3. How much tax will I pay? I've heard many people say they pay either £150 to £300 - Does it depend on how much you earn?

I will be very grateful for help and advice and if anyone can suggest any apps where I can keep tabs of my salary and tax! Thank you!!!
Original post by InnerStrength
Hi guys,

I have some questions to ask as I've never paid any attention to this stuff but I'm now wishing I did.

Ever since I have been employed as a sales assistant (25 hours p/w) - I have been on the tax codes 801L and then 944L, every single one of my payslips say 0.00 but there is always a small amount for National Insurance.

1. Sadly, I don't understand what this means? Why was I not taxed? (Because I was a student maybe?).

2. What exactly do tax allowance mean? - For example, £10,000 so from January to 2014 until November 2014 I earn £1,000 a month so does that mean December 2014 until April 2015 I will pay tax?

3. How much tax will I pay? I've heard many people say they pay either £150 to £300 - Does it depend on how much you earn?

I will be very grateful for help and advice and if anyone can suggest any apps where I can keep tabs of my salary and tax! Thank you!!!


1) You where probably not taxed because you did not earn enough to be taxed. If you earn below the tax threshold (currently £10,000 a year) then you dont get taxed. Being a student has nothing to do with it. Its just that with you being a student, you are less likely to earn enough to be taxed.
2) The tax allowance is the amount you are allowed to earn before you get taxed. The tax allowance is currently £10,000 a year.
3) The amount of tax you pay depends on how much you earn. Earning under £10,000 a year means you wont get taxed anyway, but what you earn over that will get taxed. How much though will depend on how much you earn.

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