At my part time job we are currently in the process of employing a new accountant.. In the meantime each of us are putting our contributions aside so as we dont owe any come the end of the tax year.. If im roughly earning £150 per week, How much NI and Tax should i put aside to be sure im not going to fall behind and end up owing money to my employer??
2007-02-20 03:09:47 · 11 answers · asked by **ScrummyMummy** 3 in Business & Finance ➔ Taxes ➔ United Kingdom
It's not your responsibility to put aside your tax and NIC if you are an employee! If your employer is failing to deduct these payments, they are breaking the law and your employer, not you could be liable for the tax and NIC. The fact that they have no accountant to do the PAYE is no excuse!
I don't know what to advise you - my gut feeling is to contact the Tax Office (you can do this anonymously) and tell them what is going on and let the Revenue deal with your employer.
2007-02-20 03:16:43 · answer #1 · answered by fengirl2 7 · 0⤊ 1⤋
If you are on the normal tax code of 503L you would owe around £13 per week on £150.00.
your employer should deduct this and pay you £137. He should then put it aside to pay Inland Revenue. He will also be liable for the Employers National Insurance (which isn'tdeducted from you).
2007-02-21 13:40:07 · answer #2 · answered by Janice E 3 · 0⤊ 0⤋
It is your employers responsibility to take tax and Ni from you ,unless you are self employed .
I would speak to your local tax office about this, in the meanwhile dont hand over any money.
2007-02-21 22:32:55 · answer #3 · answered by bambola1uk 2 · 0⤊ 0⤋
If you are being paid on a payroll (as an employee) it is your employers' responsibility to ensure that correct deductions are made from your gross pay in each pay period. If you want to put money aside then there is a paycalculator on the Moore and Smalley Website which will help to discover what your net pay and deductions should be.
2007-02-20 10:21:41 · answer #4 · answered by bty498072 1 · 0⤊ 0⤋
As Steffi factors out, they now all bypass into the comparable fund. the unique theory grow to be for each tax to assist pay in the direction of the maintenance of what they stated (examples): PAYE - advantages; Ministers; Councils; college placements; emergency centers (exc NHS); defence NI - NHS; State retirement pension scheme highway Tax - highway community Council Tax - faculties; rubbish collections (something interior reach)
2016-10-16 02:27:36 · answer #5 · answered by Anonymous · 0⤊ 0⤋
It is your employers responsibility to take tax and Ni from you ,unless you are on a self employed state us .
2007-02-20 06:26:14 · answer #6 · answered by Mick 4 · 0⤊ 0⤋
Your employer should be taking tax and NI when they pay you, its a criminal offense not to as tax needs to be paid by the 19th of the following month you are paid.
2007-02-20 03:14:08 · answer #7 · answered by agius1520 6 · 2⤊ 1⤋
that all sounds very suspect!!
Are you sure your boss isn't just going to ask for a random amount of money for your "tax" owed at the end of the year and pocket it?
2007-02-20 03:18:39 · answer #8 · answered by Anonymous · 0⤊ 0⤋
It does sound very suspect indeed.
I would speak to your local tax office and to ACAS about this.
DON'T hand over any money!!
2007-02-20 03:26:47 · answer #9 · answered by Bettie Page 2 · 0⤊ 0⤋
10% should more than cover it, anything less will be a bonus for you
2007-02-20 03:13:24 · answer #10 · answered by Anonymous · 0⤊ 0⤋