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qznhln1
New Member
68 Posts |
 Posted - 26 August 2009 : 17:56:20
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NT Tax Coding
I currently have to pay employer's NIC, employee's NIC and PAYE income tax.
Will my NT tax coding (assumming the HMRC ever get their act together!) apply to all of these or just my PAYE conrtibutions? |
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frosie90
Junior Member
285 Posts |
Posted - 26 August 2009 : 18:22:37
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Hi, your National Insurance will remain paid as normal via your salary, it is only the Tax that will be "re-directed" so to speak.
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qznhln1
New Member
68 Posts |
Posted - 26 August 2009 : 19:08:49
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Do you know what do Moon Beever do about calculating your contribution?
The OR wants to set-up an IPA based on the tax I am saving from an NT tax code but as my employer will no longer be calculating my PAYE contributions (due to the NT coding) I really have no idea what this is going to be, unless I get an accountant involved.
My taxable income varies by up to 30% on a given week depending on the amount of business expenses that I incur and there really is no consistency on how much this will be (I have to do a lot of travelling around Europe & the Middle East, which can be frequent and infrequent depending on the projects I am working on).
The IPA form I have been sent has a fixed amount, which is about 50% of the income tax I paid last month, and with the huge variations in what I pay I am really reticent to sign up to it.
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frosie90
Junior Member
285 Posts |
Posted - 26 August 2009 : 19:16:49
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| I am waiting to see what Moonbeever says. The original IPA form I had stated around £100 less than I normally pay. My Tax varies slightly every month. Not by massive amounts but I receive £5 per night for on call and some months I may only do a couple of on call and others far more. As far as I am aware the OR will work out an average. I asked a similar question to you on a previous post and was advised that I may need to pay any shortages at the end of the financial year? I have to send off my salary slips each month and wonder if this will carry on so they can calculate what tax I would have earned given the monthly amount. Sorry I cannot advise you further on this other than to perhaps discuss this with Moonbeever themselves? Others may be able to advise. |
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qznhln1
New Member
68 Posts |
Posted - 26 August 2009 : 19:37:04
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The real problem here is that without getting an accountant involved I don't know what the potential shortages (or overpayments) will be due to the complexities of the tax system...
Some months (and sometimes weeks) I might have to pay up to £2,000 in travel expenses which obviously makes a huge difference in the tax I pay. I also work on temporary contracts, which means that some months I am working, some I am not and others might be for just a couple of weeks... I just genuinely do not have an average week or month and I can't see running back to Moon Beever every time I get paid with a change of circumstances is going to work
I have asked the OR about this but I really don't think she knows what to do - she has tried to palm the issue onto Moon Beever but until I sign up to the IPA I am not registered with them.
I obviously do not want to sign up to something which I think is going to be unworkable - personally I think the best bet would be for me to carry on paying tax is normal and let the OR claim it back from the HMRC at the end of the year (but that would be too simple!)
Do you have a phone number for Moon Beever because, as you say, they are probably the ones to talk too... |
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Housing
Senior Member
United Kingdom
1399 Posts |
Posted - 26 August 2009 : 19:45:18
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Hi
Just taken this off Moonbeevers website
24-25 Bloomsbury Square London WC1A 2PL
tel +44 (0)20 7637 0661
fax +44 (0)20 7436 4663
E mail: info@moonbeever.com
Regards, Richard 
"There are no problems - only solutions..." |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 26 August 2009 : 22:27:45
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It depends which office is dealing with your case as that's not the same office that I have dealt with. Hopefully they may be able to point you in the right direction.
Tomorrow is a mystery, yesterday is history, today is the present, a gift to make the most of.
View my blog at http://skippy13.blogs.bankruptcyhelp.org.uk/
25 IPA payments made, 11 to go - on the home straight! |
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NT Tax Coding
