Tax help! please :(

Kristoph

Kristoph

Kristoph

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Joined
11 May 2007
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I'm currently working for ASDA part time while I'm at uni, but have recently got a small job on the side web designing. I've been sent a P46 by the web design company but I was wondering how I will get taxed if the inland find out if I'm working two jobs. The income is fairly low on both.

Income from ASDA varies, but is around £6,500 a year, web designing is much less though - I'm doing very little work and expect to earn about £1,500 a year...

Will I just continue to get taxed at 22% on both jobs?

What does the P46 do exactly?


Thanks,

Kris
 
p46 is to work out how much tax you should be paying, as you have no p45.

Ypou will be taxed the same as everyone else. Absolutly no point signing the student tax form(p38).
All students get is to be taxed nothing on there allowance, somewhere around £5300, same as everyone else.
If you not going to earn less than £5300 then don't sign the form(p38).
 
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You'll have to do tax returns at the end of the year I think. You won't get charged 22% on the full lot, it's only 22% on everything over £4900-ish.

EDIT: £5300 sounds more like it, £4900 was a few years ago.
 
mp3kla said:
Well the company sent me the form apparently so they could put me on their tax books? Didnt know it was a student one?
Click to expand...


no, the p46 is just to work out how much tax you should be paying. as you have no p45 to give your 2nd firm as Asda will have it.
 
The P46 is so that your new employer can establish what tax code to put you on, and to notify HMRC of the employment, as you have no P45 to give them.

Tick the appropriate statement (for you this will be statement c).

Your employer will then use the code BR, which means you will pay 22% tax on all earnings from that employer. Your main job at Asda should be using a code of 522L (or similar) so that you don't pay much tax there, as your income is covered by the personal allowance (£5225 this year), ans the 10% rate of tax.

If you can accurately predict what your earnings from asda will be, then ring your tax office, and tell them. They will then be able to amend your tax code so that the remaining bit of the 10% rate of tax is given to your web design income, so that come the end of the year you have paid the correct amount of tax.

If you don't do this, then all you will need to do ic contact HMRC after the year ende, send them your P60s and ask them to check your tax and make any necessary refund.
 
Phone up the inland revenue (or HMRC whatever they're called now), they were quite helpful to my gf when she had two jobs :)
 
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