Two jobs

[Mustang]

Forgive my sins but, as previously confessed, I am considering taking a permie job again primarily to obtain a lot of good contacts. My intention is to only do it for about a year or two and then return to contracting. As a result I would keep the company trading and even put some money into it so that I had capital available for when I initially make the return.

As a Director I know I need not pay myself anything each month so, if I take the job, I was planning to do a nil-return for PAYE every month. If I do this though I would want all my tax allowances to be applied to my permie job. What form would MyCo fill in order to ensure correct tax being paid in the permie role?

Can anyone point me in the rightdirection or should I just call HMRC?

TIA

[Bigbird]

None.

When you start your permie role ask your new employer for a P46 and tick Box A "this is my only or main job".

Set your tax code within Yourco's payroll system to "BR" and deduct at basic rate if you do pay yourself anything from Yourco under PAYE.

When you go back to Yourco in a couple of years time apply the code shown on the P45 you get from the permie employer instead of the BR code.

Job jobbed.

[ASB]

Ultimately it makes no difference to the tax you will pay, but can make a bit of difference to the when.

In the same positions I told the permie employe to send a P46 - which had the relevant box ticked. Unfortunately this caused "BR" to be issued to the permie employer and my coding with MyCo remained unchanged.

To rectify this I simply rang my tax office and told them they'd cocked it up. About a week later the revised coding notices popped out.