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Post Info TOPIC: Tax Code query
Bucks Bodger


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Tax Code query
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Hi all

 

I have a client for whom I run a payroll, she is the only Director & employee of a Ltd Company.

She is closing the company on April 5th, and from April 6th she will be employed by a new Ltd Company,

of which she will be one of 3 Directors.

I have received notification of a new Tax Code for her, effective 6th April, but obviously this is for the

old company. Should I use this Tax Code for her pay in the new company, or use the old tax code from her

P45 and wait for HMRC to issue a new code for the new company ?

 

Hope that makes sense !

 

Opinions welcome ....

 

Eunice



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Eunice Cubbage
Helz


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Posts: 154
Date:
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Hi Eunice

I would say she'll need to complete a P46 (starter form) in the new company and HMRC should issue a tax code after the first payroll has been run.

You can't use the tax code issued to the old company, as that is only for use by that employer, and the P45 will become obsolete as soon as you tick over into the new tax year.....

Helen

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