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you on an emergency tax code? - |
What is emergency
tax?
If you
start a new job and your employer does not know what tax code to
put you on then an emergency tax code may be issued.
Emergency Tax
Codes
There are a number of emergency tax codes. You will be able to recoginse
if you are on an such a code if on your pay slip your tax code has
a suffix or prefix of BR, X, WK1, MTH1.
When you commence employment
for the first time your employer should ask you to fill in a P46
form. Until your employer gets this form back you will be on an
emergency tax code. The consequence of being on one of the emergency
tax codes is that it will mean that you will only be entitled to
the basic personal allowance, It does not take into account any
entitlement to other allowances or possible relief's in your monthly
pay cheque. If you are put on an emergency tax code it will mean
that it will be applied from the first week meaning that earnings
will be ignored from previous months and each pay period is looked
at individually.
How much is Emergency
Tax?
Until your employer receives your P46 form back they will be forced
to keep you on an emergency tax code. Many people ask us How much
is Emergency Tax?. It is tax at the full 22% basic rate which will
be deducted from your pay.
What do
I need to do if emergency tax affects me?
If you have been paying emergency tax or have done so anytime in
the last 6 years and want to claim your tax
rebate
simply contact one of our agents who will be more then happy to
help.
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