Was self employed now employed how to avoid emergency twx

augusta24

Hi all,

Really hoping someone can help me out here. I was self employed from January to September and now have finished that and am starting a new PAYE job.

Obviously I've no p45 to give my new employer so I'm just wondering how to ensure that I'm not emergency taxed? I tried phoning my local tax office but the person was really not helpful at all. They did mention that I need to fill in the TRCN1 form though.

But I'm assuming I need to do more than just that?


Would really appreciate any help with this!
Thanks :-)

relax carry on

augusta24 wrote: »

Hi all,

Really hoping someone can help me out here. I was self employed from January to September and now have finished that and am starting a new PAYE job.

Obviously I've no p45 to give my new employer so I'm just wondering how to ensure that I'm not emergency taxed? I tried phoning my local tax office but the person was really not helpful at all. They did mention that I need to fill in the TRCN1 form though.

But I'm assuming I need to do more than just that?


Would really appreciate any help with this!
Thanks :-)

You need to call the Revenue PAYE 1890 number with your pps, date started, how often paid and your employers 7 digit PAYE registered number. This will register your new employment and allow you to be taxed correctly.
Regarding your self employment, if you have ceased, then you need to complete a form trcn1.

barneystinson

I always keep an emergency twx (or a lion bar or a snickers) somewhere handy, in case I get peckish... :cool:

augusta24

Thanks for the advice and humour ;-)

I'm also going to need to decide what way to split my tax credits, do I need to phone revenue about that too? Is it that same 1850 number?

relax carry on

augusta24 wrote: »

Thanks for the advice and humour ;-)

I'm also going to need to decide what way to split my tax credits, do I need to phone revenue about that too? Is it that same 1850 number?

Same number. Have an idea of your income until the end of the year.

augusta24

Hi again,

thanks for the help so far.

I just want to check that I have everything in order before I phone.

So i phone that number and tell them that Ive finished up self employment and have started employment and give them my employers paye number. Ill give them an estimate of total gross earnings from self employment and employment for the year.

What am i actually asking them for? Is it just to tell them this info or am i requesting that they send my tax credits cert to my employer?

Also with regards to tax credits, I think the most straight forward thing to do is split them in half- leaving my PAYE credit for employment and my Personal credit for my self employment (jan-sept).

Is this a pretty straight forward request and does it sound like an ok idea? I'm assuming I cant use some of my PAYE credit on my self employment and thought splitting them down the middle would be most straight forward- but i don't want to have to pay any extra tax or loose out as a result of it.

I would really appreciate any help on this!
thanks!

augusta24

augusta24 wrote: »

Hi again,

thanks for the help so far.

I just want to check that I have everything in order before I phone.

So i phone that number and tell them that Ive finished up self employment and have started employment and give them my employers paye number. Ill give them an estimate of total gross earnings from self employment and employment for the year.

What am i actually asking them for? Is it just to tell them this info or am i requesting that they send my tax credits cert to my employer?

Also with regards to tax credits, I think the most straight forward thing to do is split them in half- leaving my PAYE credit for employment and my Personal credit for my self employment (jan-sept).

Is this a pretty straight forward request and does it sound like an ok idea? I'm assuming I cant use some of my PAYE credit on my self employment and thought splitting them down the middle would be most straight forward- but i don't want to have to pay any extra tax or loose out as a result of it.

I would really appreciate any help on this!
thanks!

Hi guys I know you've been really helpful to me already but just wanted to bump this up as I'd really appreciate help with this question too.
Thanks!

barneystinson

augusta24 wrote: »

Hi guys I know you've been really helpful to me already but just wanted to bump this up as I'd really appreciate help with this question too.
Thanks!

If you want to maximise your cash flow between now and December you could not split, and minimise the PAYE you pay.

If you want to minimise the amount of any lump sum bill post year-end, then you'd do the opposite and retain your personal tax credit as you say. There's no right answer, it's about preference and circumstances.

augusta24

barneystinson wrote: »

If you want to maximise your cash flow between now and December you could not split, and minimise the PAYE you pay.

If you want to minimise the amount of any lump sum bill post year-end, then you'd do the opposite and retain your personal tax credit as you say. There's no right answer, it's about preference and circumstances.

thanks! But is it possible to split a tax credit in half and give half to each? And if so is it possible to do this with the paye credit? Or can paye tax credit only be used with paye income? I earned much more with my self emp than what i will earn in this new employment so just don't want to have a huge sum to pay in one go!

barneystinson

augusta24 wrote: »

thanks! But is it possible to split a tax credit in half and give half to each? And if so is it possible to do this with the paye credit? Or can paye tax credit only be used with paye income? I earned much more with my self emp than what i will earn in this new employment so just don't want to have a huge sum to pay in one go!

PAYE credit is only for PAYE income - so based on what you've said you want to do, you should just split your credits so that only the PAYE credit is allocated to your employment. That way you'll retain the personal credit for use against your self employment income.