Tax Credits Question Please Help!

declanmac

Hi

i recently started a new job january 3rd 2013 after taking redundacy from my previous job

i got my p45 finally from my old company last week and was dropping it down to my HR department to look after , i decided to go onto PAYE online for a quick look and all my details were updated with my new company etc would this be correct??

also it says i have XXXX in PAYE tax credit and XXXX in Personal tax credit is this something i can claim back?

i was going through a process and it said i could spilt it over my old and new job but wasnt sure what i was doing so i stopped

can anyone help me out?

Tow

A. Could be.
B. No.
C. Good thing you stopped.

declanmac

not much info there could you elaborate please?

namenotavailablE

The tax office must have received information that you started with your new employer if that employer is listed on your PAYE Anytime account. Either you or your employer would have notified them.

The tax credit total and cut-off value total are used by your employer to calculate the tax due on your pay. You'll receive the benefit of these values over the course of the current year so you don't really need to do anything (other than check if there are any amendments to these values you need to notify the tax office about e.g. if you can claim an 'Employment related expense' [see the spreadsheet at this page ] then you should notify your tax office].

There is no need to split the tax credits and cut-off between old and new employments. That facility is used if you have more than 1 job on the go e.g. you worked weekends for another employer. In those circumstances, you might want to pay zero tax on the lower paid job and you can arrange this by allocating tax credits and cut-off to that job. It is not relevant in your circumstances based on the information you provided.