What if I dont have a P45 from my previous employer?
Not to worry, you can complete and sign a P46, which we will send directly to HM Revenue & Customs for them to code manually. The only downside of using a P46 is that HMRC can take up to six weeks to return the manual coding notice (P6) back to us. This means that you would be put on a Week 1 / Month 1 temporary tax code and you may pay a little extra tax in that first six weeks or so. However, as soon as the P6 is received any overpaid tax will be immediately recalculated and reimbursed back to you in your next available payment.
Related Questions
- If a new employee has reached the limit for social security taxes with a previous employer in the same year, does the new employer need to take out the tax for both the company and employee?
- Why does Suze Orman say aloud to put your 401k rollover from previous employer surrounded by traditional IRA?
- Can my previous employer withhold my P45 if i owe a small sum of money?
