How can I figure out my remaining personal allowance?

[amarkitanis]

Hi,

I've just resigned from my employer where I worked the whole of April and half of May.

I just got my P45 which says my Total pay to date and my Total tax to date.

How can I figure the remaining personal allowance I have left so I can distribute it across the months?

Thanks,
Andreas

[LisaContractorUmbrella]

What's your tax code? Were you paid weekly or monthly? What was your final pay period/pay date?

[Martin at NixonWilliams]

Hi,

I've just resigned from my employer where I worked the whole of April and half of May.

I just got my P45 which says my Total pay to date and my Total tax to date.

How can I figure the remaining personal allowance I have left so I can distribute it across the months?

Thanks,
Andreas

The P45 will show either a week or month number, it is likely to be 6 if paid weekly or 2 if paid monthly. If you are on the standard tax code of 1000L, you will have used a portion of your allowance equal to the week / month.

For example, if paid weekly you will have used 6/52 of your allowance or if paid monthly, 2/12 of the allowance.

You don't have any control over how the allowance is split in future months, your next employer should use the tax code on the P45 and will automatically distribute the allowance for you.

I hope this helps.

Martin

[northernladuk]

Hi,

I've just resigned from my employer where I worked the whole of April and half of May.

I just got my P45 which says my Total pay to date and my Total tax to date.

How can I figure the remaining personal allowance I have left so I can distribute it across the months?

Thanks,
Andreas

You ask the accountant you are going to engage very shortly.

[amarkitanis]

Tax code is 1000L and number shows 2.

Does that mean they have used 833.33 * 2 for these two months?

Thanks

[ASB]

Tax code is 1000L and number shows 2.

Does that mean they have used 833.33 * 2 for these two months?

Thanks

Yes.

Note: it makes no difference at the end of the day. All sorted out by your tax return, but it does mean that as at the moment with no income in June you have nominally overpaid a little tax. i.e. it affects WHEN you pay going along, not what you pay.


Silly example, earn 100k in april and you will be taxed on 99k and change. Earn nothing for the rest of the year and come tax return it will be apparent that you should only have paid on 90 so you get back the tax on 9k and change.