View Full Version : Tax Question
Ok, During the Term I work at the University Library, The last work I did here was back in May. Then Early June, I started work somewhere else and signed a form saying it was my only job during the summer and I will earn less than £5,000 during the course of the employment.
Now, I did not hand in a timesheet for the library work and intend to do so soon so I will be paid at the end of august. My question is, Will this appear as two incomes/jobs and cause me to suddenly be taxed? I didnt work in the library in June, July, Or August but I will be paid (and the payment processed) in august?
Firstly - "I am not qualified to offer tax advice" !!
If you have been paid by two employers during this tax year ( from 5 April 07) then you will have to declare two employments. Whether you pay tax is a different question, based on how much you were paid in this tax year and whether you have any additional allowances above the standard personal allowance (£5225 in 2007/8 (http://www.hmrc.gov.uk/rates/it.htm)). If you are doing only part time work, I would expect they will not be taxing you at source, but having effectively had two concurrent jobs you will probably need to ask for a self-assessment in April 08.
BTW, do the library know you are planning to submit a May timesheet in August - was this agreed with their payroll people?
HTH
They are quite relaxed about the late timesheets, I have done it before. If I earn under £5225 then its ok if i get paid twice?
Assuming you have no taxable benefits (company car!) or unpaid tax then yes you should be fine - have you ever had a 'Notice of Tax Coding'?. If you look at your payslip you can see the tax code they are using. Ideally it should be about 522 (net allowances/10). Don't forget any savings income ;-) - oh your a stoodent :D
Cool, Thats what I thought too.
vBulletin® v3.8.11, Copyright ©2000-2024, vBulletin Solutions Inc.