what to do if you are paying emergency tax
Paying emergency tax is something we all want to avoid, whether weâre just entering the workforce or changing jobs. However, misunderstandings and misconceptions around emergency tax can lead to a frustrating situation where your earnings are considerably low for the duration of the emergency tax period. To help you better understand emergency taxation, our tax back experts have answered some of the most frequently asked questions regarding emergency tax. 1. What is emergency tax? Emergency tax involves the taxation of all of your earnings at the higher rate of tax for a temporary period â 40% from 2015.