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Returning to work after being self employed, do I need a P45?

4 replies

Monroe · 26/10/2014 10:13

And if so can anyone advise where I would get it?

I have been a self employed childminder for the last 2 years but I should be returning to work full time next month. Just wondering if they will ask for a P45 or any other paperwork. I obviously want to be getting the correct wages and not worrying about tax codes etc Confused

OP posts:
PigletJohn · 26/10/2014 10:25

They will ask for a P45 but not everybody has one.

Take in something else with your tax ref. Phone or write to your tax office and ask for a Notice of Coding.

Monroe · 26/10/2014 11:24

Thanks Piglet I will call the tax office on Monday. I need to inform them I am no longer self employed too so will ask then.

OP posts:
unlucky83 · 26/10/2014 11:39

You don't need a P45 - you will have to complete the equivalent to a P46 (with real time they aren't quite the same) There will be 3 statements - you have to tick one...
As you don't have a P45 they won't know what your income has been so far this year - you will most likely (if this is your only job now) go onto normal tax code but week or month one. So 1000L w1/m1 - means you will be taxed (basic rates - so unless above £31k pa ish 20%) on anything you earn above £10k per year - so approx £192 per week/£833 per month.
If you have more than one job at the moment you will go onto basic rate (20% of everything you earn - no allowance)
You will still have to fill in a tax return at the end of this tax year for your self employment. On Wk1/M1 you may get tax back - if you earned less before.

Monroe · 26/10/2014 12:01

Thank you that is very helpful.

My new employment will be my only job once I start. And yes, less than £31 pa.

I'll make sure my accounts are up to date from April till now ready for my tax return when it comes round. Thanks again

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