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What is PAYE? and should I be paying it?
A couple of months ago I started a job at a large shop but on my payslips it shows I am losing 20% of my wages in P.A.Y.E which I have been told means Pay As You Earn and is tax. I was also told it might have something to do with me having two jobs but my other job is a few hours a month using a database for my brother (who owns a cleaning business) to keep a track of customers and occasionally (by which I mean 1 day a month) going out with them to clean. But I still dont understand why I am being 'charged' PAYE as I am only 17 (not 18 for another couple of weeks), my brother sorts his own tax for his business out and even combining the money I get paid from both jobs I get no where near the £7000 yearly income where you pay tax.
Can anyone please explain to me why I'm paying this?
thank you :)
3 Answers
- ?Lv 79 years agoFavorite Answer
You have got the brothers job listed as your primary employment and the new job as a secondary employment - the system assumes the primary employment uses all of your allowances and codes the new job as BR - takes 20% tax.
Work out roughly how much each job will earn over a year. Have a payslip from each job to hand.
Get the HMRC phone number from hmrc.gov.uk. Call in and say your tax codes are wrong and you want your allowances re-allocated.
They will do the necessary and issue new tax codes. Over deducted tax will be returned through your wages.
- SuttyLv 69 years ago
At the moment you are on the emergency tax code, which means everything you earn is taxed at basic rate, no tax allowance. They should get a tax code soon, then you'll get back the overpaid money. If you don't get it by end of tax year in april, then you can ask the tax office. did you give the employer a NI number, that is what they use to get the tax code.
- ?Lv 79 years ago
What do you earn in this new job and what is your tax code?
If you earn £155 a week (£8105 a year ) or more then you pay income tax,
so do you earn that or not ?
Your age is irrelevant, what you earn determines whether you pay income tax or not
Source(s): uk
