No tax code, can I just us 1000L?

[Karimbo]

Hi

I've been self employed for the last 2 years and that was my primary income. I have been running a ltd company for 2 years and that was my secondary "project", didn't have an income from it to date.

Things have changed slightly and my revenue streams have flipped. So I'll need to draw an income from the ltd company. I have just started the process off registering for PAYE for employers.

Just thinking ahead a bit, I looked through my shoebox of hmrc letters and cannot find any tax codes. I have received 2012/13, 2013/14 years but I have not received anything for the current year. (Perhaps this is related to the fact that I have not submitted the 2013/14 self assessment return)

I am curious, is it OK to use the default 1000L code. Or will it mess something up?

 

[Karimbo]

Jusat searched around and read a few more articles.

1 solution was to log onto my online hmrc account and look for PAYE coding notices, unfortunately when i log in and search for current year it says "There are currently no PAYE coding notices available to view for the tax year you have selected."

I take it after my ltd company registers as an employer, I'll be able to request a tax code for me as an employee?

 

[MyAccountantOnline]

This should help - https://www.gov.uk/new-employee-tax-code

 

[Karimbo]

thanks, long story short. i should just use 1000L

 

[Newchodge]

No. When you take yourself on as an employee you complete form P46. That will generate a tax code which may be 1000L week/month1 or BR or something else.

Have you got payroll spftware or do you want to outsource payroll to someone who understands it? If you would like a quote, feel free to drop me a PM.

 

[Karimbo]

Got this solved.

Didn't receive coding notice because my 2013/14 self assessment for self employed business was due. So I filed that last week and received my tax code for 2014/15 year on Monday.

Quite simple when you know how to do it but very daunting when its the first time.