Hello,
I hope I am posting this thread into the right category.
A question started to puzzle me regarding my wife's income tax.
She is due to go on maternity early May. She's currently on £43K a year and will get her normal pay in April. For May and the first two weeks of June, she should receive 90% of her normal salary and than the SMP from the middle of June for the remaining 7.5 months. She is planning to take a year off.
My question is: having some rough calculations, she will receive around £18K gross in the 2013/14 tax year (april 13 to mar 14) instead of her normal salary of £43K. The Apr and May income tax on her salary will be based on a £43K annual income instead of the (rough) £18K she will actually receive, and she will pay the normal higher tax rate for these two months.
Would the tax code need to be changed from her April salary to reflect on the new (estimated) income of £18K instead of the £43K.
Thank you in advance for all your advice.
George
I hope I am posting this thread into the right category.
A question started to puzzle me regarding my wife's income tax.
She is due to go on maternity early May. She's currently on £43K a year and will get her normal pay in April. For May and the first two weeks of June, she should receive 90% of her normal salary and than the SMP from the middle of June for the remaining 7.5 months. She is planning to take a year off.
My question is: having some rough calculations, she will receive around £18K gross in the 2013/14 tax year (april 13 to mar 14) instead of her normal salary of £43K. The Apr and May income tax on her salary will be based on a £43K annual income instead of the (rough) £18K she will actually receive, and she will pay the normal higher tax rate for these two months.
Would the tax code need to be changed from her April salary to reflect on the new (estimated) income of £18K instead of the £43K.
Thank you in advance for all your advice.
George