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WARNING - Tax Advice Thread (Read 2001 times)

Baron

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WARNING - Tax Advice Thread
November 10, 2014, 09:41:32 am
Tax is something I know very little about, so I'm looking for some advice.

I work for two supply teaching agencies and a commercial  archaeological unit. The supply agencies pay me through two different companies, Key Point and Zebra, and I'm on the books with the archaeologists.

Have a feeling my tax codes are a mess and I could be paying too much. Can anyone recommend an accountant? Hear some offer free one off tax advice?

Thanks.

tomtom

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#1 Re: WARNING - Tax Advice Thread
November 10, 2014, 09:48:34 am
Tax is something I know very little about, so I'm looking for some advice.

I work for two supply teaching agencies and a commercial  archaeological unit. The supply agencies pay me through two different companies, Key Point and Zebra, and I'm on the books with the archaeologists.

Have a feeling my tax codes are a mess and I could be paying too much. Can anyone recommend an accountant? Hear some offer free one off tax advice?

Thanks.

DM Jasper (if he doesnt reply to this...)

andyd

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#2 Re: WARNING - Tax Advice Thread
November 10, 2014, 09:53:58 am
You'll probably be taxed too much in the short term as you'll get an emergency tax code for all but one of your jobs. If you can manage on what you get you'll get it back in the long term, but I'm not sure it's so easy to sort it as you go along without making lots of calls every month.

Baron

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#3 Re: WARNING - Tax Advice Thread
November 10, 2014, 10:11:59 am
Thought as much, thanks. A healthy rebate just before the summer break would be pretty welcome anyways.

lagerstarfish

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#4 Re: WARNING - Tax Advice Thread
November 10, 2014, 12:19:32 pm
Jaspersharpe Arms Dealing and Financial Services will sort you out

Johnny Brown

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#5 Re: WARNING - Tax Advice Thread
November 10, 2014, 01:20:50 pm
Doing your own tax return is dead simple nowadays as it's all online. Doesn't sound like yours would be at all complicated. All you need to do is learn a bit of terminology and what you can claim for - mileage, use of home as office etc.

tomtom

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#6 Re: WARNING - Tax Advice Thread
November 10, 2014, 02:02:44 pm
Jaspersharpe Arms Dealing and Financial Services will sort you out

I heard it was more people trafficking than arms dealing nowadays....

Baron

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#7 Re: WARNING - Tax Advice Thread
November 10, 2014, 02:13:37 pm
Formulated a cunning plan. As I only work for the archaeologists and one of the teaching agencies occasionally I shall nominate the other teaching agency as my main job and put all my tax free allowance with them.

In summary, I think, this means:
Teaching agency 1; main job, standard tax code, full tax free allowance with them
Teaching agency 2; second job, emergency tax code, no tax free allowance
Archaeologists; third job, emergency tax code, no tax free allowance

Therefore, I am Mick Fowler.

mrjonathanr

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#8 Re: WARNING - Tax Advice Thread
November 10, 2014, 03:23:21 pm
Ring the taxman, they can be surprisingly helpful.

Do you also pay union fees? They're tax deductible. Plenty of accountants will claim your payment back for a fee. Or just tell HMRC and they'll calculate and repay it for nothing.

Jaspersharpe

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#9 Re: WARNING - Tax Advice Thread
November 11, 2014, 02:47:32 pm
Sorry Baron, missed this.

Yes, your plan of applying your full tax allowance to your main job will work (provided your main job pays more than the allowance in the tax year).

This will then mean the other employment income will be taxed correctly and you will receive a refund (if you have paid too much tax) through PAYE on your main job once the correct code is applied.

Baron

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#10 Re: WARNING - Tax Advice Thread
November 11, 2014, 06:19:45 pm
Aww, thanks man. Appreciated.

Jaspersharpe

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#11 Re: WARNING - Tax Advice Thread
November 11, 2014, 08:46:57 pm
If it gets complicated then send me a DM. I don't charge for advice.

Baron

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#12 Re: WARNING - Tax Advice Thread
November 12, 2014, 12:59:33 pm
Phoned HMRC. All sorted, no problems.

 

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