Howards/Springfield

[MPTE1955]

RE: Howards/Springfield

(01/04/2021 17:21)Mrboo Wrote:  I have 3 companies all with there own tax codes

Job A
Your estimated taxable income is
£x
Tax code: 720LX

Job B
Your estimated taxable income is
£x
Tax code: 16T

Job C
Your estimated taxable income is
£X
Tax code: 52T

So long as you set it up right you should not pay 20% untill you got over that number like job B I can earn £160 till they take 20% and job A £7200

The key is getting the pots right. You can change at any point in website https://www.tax.service.gov.uk/personal-account

I do this for a living and know this stuff like the back of my hand. You do not reach the figure of the allowances before paying tax. The allowances are effectively averaged out over s month or a week depending on your pay frequency.. At the present allowance of £12500, if collectively you are earning above £1041.66 per month or £240.34 per week then you will pay tax. That is how it works