Tax Year Query

[eek]

The umbrella will only pay you when the money hits their account.

Just ask you agency to pay you in April or delay sending in timesheets to April 6th.

[pr1]

don't give them a valid bank account number. Job sorted.

This was my point (in why I don't think it would work) - the payroll RTI will still show the date they intended to/tried to pay you (i.e. possibly in the previous tax year)

[ladymuck]

Is that true? Is it not the date of the payroll run in the RTI report? (Pretty sure that will be the date that counts on a P60)

The payroll run states the date the payment is made

[Lance]

Thank you. It follows then I could ask the umbrella to delay payment until the new tax year?

don't give them a valid bank account number. Job sorted.

[pr1]

Next year. It's when the payment is made, not when the work was done that counts.

Is that true? Is it not the date of the payroll run in the RTI report? (Pretty sure that will be the date that counts on a P60)

[ladymuck]

Definitely worth asking!

[Lockhouse]

Thank you. It follows then I could ask the umbrella to delay payment until the new tax year?

[ladymuck]

Next year. It's when the payment is made, not when the work was done that counts.

[Lockhouse]

If I switch to an umbrella for the beginning of March, work all of March but don't actually get paid until after April 6, for tax purposes which tax year does the payment fall into? I've budgeted my divvis this year and don't want to inadvertently stray into higher rate.

TIA