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TonyTax
TonyTax, Tax Consultant
Category: Tax
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Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
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I am 64 and have a works pension which is taxable. I have chance

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I am 64 and have a works pension which is taxable. I have chance to take up employment with a charitable organisation working 24 hrs per week and ea5n 13625 pa. How will I be taxed
Submitted: 1 year ago.
Category: Tax
Expert:  TonyTax replied 1 year ago.
Hi. Can you tell me how much your pre-tax works pension is annually please.
Customer: replied 1 year ago.
15,629 gross per annumP
Expert:  TonyTax replied 1 year ago.
Thanks. All your personal allowance of £10,600 will be being used against your pension and you should be on a code 1060L. The charity will inform HMRC electronically that you are a new employee and they should issue a BR tax code. A BR tax code means that tax will be deducted from your salary at 20%. Your net earnings will be £1,001.47 per month. Gross pay per month will be £1,354.16. The tax will be £270.83 and the NIC will be £81.86. I hope this helps but let me know if you have any further questions.
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