Changing Jobs - How to minimise Emergency Tax

_Kaiser_

So I'm changing jobs/companies in a few weeks and given that the last time I did so was almost a decade ago, I'm rusty on the process .

I/We currently get paid at the end of the month, but my finish date is a few days after this so I gather I probably won't have a P45 until the middle of next month when the next payroll run is done, but the new company wants me to start before this.

What's the best way here to minimise the time I spend being taxed (even more) stupidly. I remember something about just calling Revenue with the new employer's tax number on the day I finish, so if I do that will they manage to figure out the tax changes before the pay run of my new company?

I looked on the Revenue site and it talks about having a P45 ideally to avoid the emergency tax scenario, but something about a P46 as well if it's not available?

Any advice appreciated

Fooker

Register the new job online and then once you know your old employer has ran your last payroll, ring Revenue to move your allowances to the new job.

OMM 0000

It's been a while since I looked at this, but I'm almost certain emergency tax (the high rate) kicks in on week 9, so you should be fine (standard rate) on your first pay cheque.

EDIT: Yes, look at this: https://www.revenue.ie/en/employing-people/paying-an-employee/methods-of-calculating-tax/emergency-basis.aspx. Scroll down to "Emergency tax: tax credits, cut-off points and rates".

Mitzy

Get your new employers registered number & call Revenue yourself to send out your tax free allowance info them.
Do this the day you start & this will ensure you are not put on emergency tax.

the_syco

Been a while since i did it, but before the paycheck of your new job, ring the Revenue with your employers company tax number, and give it to them. If the new jobs HR are competent, they'll do this for you, but if they're not it may take a bit for Revenue to get your new tax details.

_Kaiser_

Sounds good Thanks very much for this all.. I was getting a bit concerned that I'd end up shafted with tax for weeks and trying to still pay bills in the meantime.

Will call Revenue on day 1 then and get them to update accordingly

LordBasil

You will need to register for MyAccount (if you are not already) - Revenue no longer register new employments over the phone- and then register your new employment once you start. Once your last Pay from your current job has been processed you can then either call Revenue to move your credits and Cut-Off (Rate Band) over or move them yourself on MyAccount. You will be on a Week 1 Basis until your P45 has been received by your new employer & Revenue. You may need to send Revenue a copy if your Employer does not, although most P45s should be issued electronically to Revenue by Employers. Once Revenue have your P45 they will issue a New Tax Credit Cert to your new Employer.