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Tax worries, 2 jobs, 1 not payroll but never knew.


IainL
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Hi everyone,

 

Hope someone can help.

 

I work 2 jobs; my second job which I have on a BR tax band is for a large national company. I receive a payslip each month and pay tax on every pound; this is my 2nd job in tax terms. Started employment in august 2008. Everything fine here.

 

My problem is my first job I started in august 2007. Handed in my P45 and all was going fine. At this time it was my only job from august 2007 until starting my 2nd job in august 2008. The company was going through financial difficulties so the pay became as when they could. This continued until the company was liquidated in May 2009.

 

My employment at this stage was transferred to a new company owned by the same owners. I have just discovered that since the new company started in may 2009 the money I received has not been going through payroll and I have been paid as a contractor. I wasn’t aware of this and only found out when I over heard a conversation between the owner and the accountant. Nothing malicious just stupidity on the owners behalf, he didn’t realise I needed to do tax returns as he thought as it was below the tax threshold I was fine.

 

I haven’t done any tax returns as I wasn’t aware.

 

I am now really worried. I just need some advice before I contact the tax office so I know what I am getting myself into. I've heard horror stories and I just want to make sure I am prepared for the worst.

 

How do I get a P45 from a liquidated company?

 

How do I sort out the tax for the monies paid as a contractor since May 2009?

 

Am I liable for any fines?

 

Will the tax office understand the situation or am I in serious trouble?

 

I just want to sort everything out and keep everything above board. I know the money is less than the tax threshold so I won’t have anything huge to pay but I'm worried about huge fines.

 

 

What should I do?

 

Any help or advice is greatly appreciated.

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