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Does Anyone Know Anything About P45's


K9Fran

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I agreed to hand in my resignation last month for 6 weeks 'gardening leave', giving me a finishing date of the 12th September and untaken holiday. My P45 arrived with my last wage slip last week, and has a finishing date of 30th September. The wage slip gives 14.5 hours holiday ( worked 6.5 hours a day when I last worked for them, but my hours had varied on a monthly basis for mental health reasons - annual holiday entitlement was 22 days not including Bank Holidays, and I'd taken 6 days holiday before I resigned - leave year started April 1st) I think that should be 4 x 6.5 = 26.........

 

I know this sounds complicated, but is it right that the day of leaving is the last day of the month, when you give 6 weeks notice at the start of the previous month?

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From what I can make out - they have taken your entitlement to cover your holiday time. The further it is spread the less tax you will pay, unless you are drawing benefits from 12.9.08.

 

When anyone leaves our place, I always take the tax to the furthest date I can legitimately so that they dont get clobbered for tax and NI. If i dont do this then because tax and ni is on a cummulative basis ie., it is estimated that in each molnth (or week) you are going to earn so much - the tax is calculated over either 12 months or 52 weeks and divided equally between those times, but if you leave mid month and take earned holiday and money in leiu this raises your weekly(or monthly) allowance and therefore you pay more tax and ni.

 

pm me if this isnt clear - Ill give you my phone number and talk it through with you :flowers:

 

Shazzy

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