Tax codes explained what you need to know about tax codes

Tax codes explained â€" what you need to know about tax codes by Michael Cheary Open up your payslip and it will probably be a sea of information you don’t quite understand.It’s easy to focus on the amount you’ll actually be taking home after tax, national insurance and other deductions. But there is one very important combination of numbers and letters which you shouldn’t ignore. It’s the tax code, and you need to make sure it’s correct.We asked the Money Advice Service to explain what the different codes mean…Tax Codes â€" the basicsThe amount of tax you pay depends on how much income you have and how much tax you’ve already paid in the year, as well as your Personal Allowance.To work out what tax you will pay, HMRC gives you a tax code. Different people have different tax codes, depending on their circumstances.If it’s incorrect, you could end up owing the government money, even if it’s not your fault. Making sure it’s right early on means you’ve a better chance of knowing what you have and keeping on top of y our cash.Work out what you should be taxed using our Tax Calculator. You can also read more about Tax and National Insurance deductions on the MAS site here.What the numbers and letters meanThe number is normally the amount you can earn before any tax is due divided by 10. The letter is how much tax you need to pay.If your tax code ends in an LThis tax code is used for people who have one job or pension. Most people will be able to earn £11,850 before tax, which means their tax code will be 1185L.If your tax code ends in an M or NThese codes represent anyone who has the Marriage Allowance. Couples who are married or in a civil partnership can transfer 10% of their personal allowance to their partner (as long as they meet the criteria). The partner receiving the extra allowance will have the M rather than normal L, while the other partner has N.If your tax code is BR or the letter D followed by a numberThese usually means you have more than one source of income such as a second job, pension or money paid out by investments. If your main income source is more than your personal allowance (so for most that is £11,850), the second salary/income will all be subject to tax.BR means all of your second income is taxed at the basic rate (20%), whilst D relates to a higher rate (40%).If your tax code starts with KThis means you could be paying tax owed from a previous year and it’s more than your personal allowance. You might also have this if you get state or work benefits, like the State pension or a company car, you need to pay tax on.The amount you get taxed can’t be more than half the amount you’ve earned or received that pay period (whether that’s monthly, weekly or another period).If your tax code ends W1 or M1 at the endThis means you’re on an emergency tax code. For example, if you start a new job your correct tax code might not have been worked out before your first payday. This means you’ll possibly be taxed the wrong amount to start, but this i s usually updated automatically and will level out.Checking your tax codeTo make sure you’re on the right tax code, check your code matches the Personal Allowance you should be getting and see if you’ve paid the right amount.If you think you’ve paid too much taxYou can  check if you’re due a refund on the HMRC website  or  use the HMRC online tax  checker.Depending on your circumstances, you may be able to ask for a refund using a form, or you may need to contact HMRC directly.If you think you haven’t paid enough taxIf you think you’ve underpaid tax, then let HMRC know. They may alter your tax code for the next financial year and claim the money back from your salary, though this will only be up to £3,000.Otherwise, tax still due for the last tax year must be paid by 31 January following the end of the tax year in which the income was earned. So if you owe tax for 2017/18, you’ll need to pay it by 31 January 2019.Find a job What Where Search JobsSign up for more Ca reer AdviceSign up for moreCareer Advice Please enter a valid email addressmessage hereBy clicking Submit you agree to the terms and conditions applicable to our service and acknowledge that your personal data will be used in accordance with our privacy policy and you will receive emails and communications about jobs and career related topics. Salariesfeatured

How to Stay Calm with Job Interviews [INFOGRAPHIC]

How to Stay Calm with Job Interviews [INFOGRAPHIC] We all know job interviews can be stressful. Interviewees are so focused on making the best possible impression that it can be hard to relax and show your true personality and your professionalism. Thanks to our friends at Essay Tigers,  beating those pre-interview nerves and mumbling throughout your answers can be controlled. This infographic shows the main reasons that interviewees are nervous, and how to combat interview anxiety. It takes practice, but with focus and experience, interviewing becomes easier. Believe it or not, its actually possible to enjoy an interview! Takeaways: A massive 96% of job seekers find it hard to relax the night before an interview. Avoid those tired eyes, make sure you get enough rest. Common interview fears include being late, not knowing how to answer certain questions, and being over qualified. Make sure you give yourself plenty of time to get to an interview, and make sure youre prepared. The typical symptoms of anxiety include moodiness, feeling nauseous and irrational thoughts. Stay positive, its only a job interview, not a death sentence. Before the interview, make sure you get at least 6-7 hours sleep, eat lightly and prepare your documents! RELATED:  Nervous Wreck? 5 Ways to Shake Off Your Job Interview Anxiety

What Do You Get When You Fall in Love - Personal Branding Blog - Stand Out In Your Career

What Do You Get When You Fall in Love - Personal Branding Blog - Stand Out In Your Career Some people fill the world with silly love songs, wrote Paul McCartney. As a career coach, I wish they did not, at least when it came to falling in love with a certain company. I am alarmed by the number of clients who come to me with certainty about how perfect a specific company is for them. How magical it would be to work for that company. How no other company could come close. Welcome to the “company crush.” It could be Google, Apple, Tesla, Coke, Disney, Zara, and the list goes on. It’s the weirdest epidemic I’ve seen among job seekers. I have one client who literally stalked a CEO of a boutique urban planning firm. She met him at a museum fundraiser and then waited until every last handshake had been made, before telling him she was madly in love with his company. He graciously gave her his business card and said, “Call HR.” Apparently, that meant they were engaged (her and the company, that is). After doing everything short of flame throwing, she finally got put off firmly and permanently with a formal letter telling her there were no openings and not likely to be any…ever. When she got an offer from a giant in the same industry? Nah. She was not really interested. That’s the problem when you think there’s “the one.” You feel let down when you get let down. And, it’s as hard to recover from a company crush, as it is when a personal one says no. Whether it’s a life partner or an employer: I promise you. There is not one. There are many suitable, exciting, and lucrative ways to go about fulfilling your dreams. Don’t get stuck on one anything until you have a contract for life. Not one cereal. Not one company. Not one career. You will have between five and seven careers in your life â€" not jobs, careers. You may live as long as 125 years, if your DNA, sleeping habits and science are on your side. There’s a lot of living to do. Don’t get stuck. Don’t fall in love with one version of yourself. You have many dimensions, some actualized already and some you don’t even know about yet. Explore all the avenues possible, as your career and job seeking take you past your comfort zone or what I now call your know-zone. Don’t rely on your imagination, because it’s likely too narrow and uninformed about the whole world of possible places, accomplishments and success you can enjoy. Feed your imagination by reading investment sites and academic publications that cover subjects and industries you dont already know about. Don’t just dream big. Dont just dream deeply. Dream wide.

Three Ways to Avoid Self Sabotage - Personal Branding Blog - Stand Out In Your Career

Three Ways to Avoid Self Sabotage - Personal Branding Blog - Stand Out In Your Career There are times in our careers where we accidentally and sometimes intentionally set ourselves up for failure. At these moments of self sabotage there are a lot of reasons why you may be doing this: some may be psychological while others might have more deeply rooted issues related to them. I’m not going to try and decipher the logic and reasons behind self-sabotage. Rather I am going to share 3 tips and one bonus point to help you try and avoid self-sabotage. The challenge is to avoid self-sabotage when  possible and by using these tips you may be able to bypass or at least reduce the risks of self sabotage. These are soft skills that take time to master. But, as you become more proficient at them you will stand out in your career. Here are Three Tips to Get You Started: Dont over commit Get others involved Write it down While these three may seem very obvious and you probably think you are doing these already it’s worthwhile to take a closer look at what you are actually doing in your day-to-day plans. Lets explore each in a bit more detail Dont Over Commit This one is pretty obvious. You need to exercise your NO muscle. This is probably the hardest thing for many of us to do. To say NO and to stick to it. Learn to say NO like a pro  â€" Read How You Can Say No Like a Pro Get Others Involved A shared goal is an accomplished goal Also by sharing your plans with a trusted adviser they can provide advice directly and candidly on the validity of your plans And they can help you prevent over commitment (see point number one) Write It Down When you commit to the act of documenting something you are taking an extra step of committing yourself. Which allows you to take another look at number one and whether this is something you really want to do This also allows you to set SMART Goals  (an oldie, but a goodie) While there are other ways to help limit and prevent self sabotage these three can help you kick yourself into gear and limit the risk of self sabotage. A question and a request for you: What do you recommend to reduce self-sabotage? Drop a note in the comments and share it with the community please One last thing for you to consider… BONUS: As promised… this is a bonus tip. Read… Burning Bridges Might Feel Good, but … I wrote this post perhaps with a bit of self-sabotage in mind.  One way to exercise your creativity and provide some catharsis is to write that email or write that letter, but… NEVER send it. Burning Bridges might feel good, but … it’s a form of self-sabotage you CAN control. Take the high road. You’ll be happy in the long run that you did. Your career will thank you too! There you have it. Three tips and a bonus to avoid (or at least reduce) self-sabotage. What have you tried that works for you? Share your thoughts in the comments.

12 Important Career Lessons Most People Learn Too Late in Life CareerMetis.com

12 Important Career Lessons Most People Learn Too Late in Life Source : Pexels.com“If only I had learned that early in my career…”If you constantly find your thoughts veering along these lines, then that’s probably because you realize that the plans you had for your career aren’t going exactly the way it should.That’s probably because you were so engrossed in theprocess of achieving success, meeting challenges and deadlines, and getting ahead in life meant so much to you that you’d completely bypassed that there’s more to life thanpromotions and appraisals.evalNow most people, especially when they are inexperienced, begin their career with the notion that you have to keep making sacrifices to reach somewhere in life.And what’s worse is that these people get a tad bit serious about making sacrifices, so much that after a point it becomes stifling for them to pursue whatever they were once passionate about.That’s why in order to prevent any regrets that may surface as you age, you need to start following this advice to make you r career more fulfilling and pleasant in the long haul.1) Money isn’t the be-all and end-allThere are so many people who have kept their passion aside so that they can have a career and make a living, irrespective of whether they enjoy the process or not. What they don’t realize is that working on something that they love doing means so much more than doing something simply for money.Why slog it out for nine hours doing something you don’t enjoy? When you could use that time to do something that makes you happy! You need to understand that money isn’t equal to happiness.Now some may argue that you can’t pay bills without money. Yes, we need money to survive, but then why not earn it by doing something you love? So, don’t shy away from taking that leap of faith.2) Not wasting your time in a job you hateWhen you’re just starting out, you tend to take up any job. But that’s not a good idea. When you get a job that you don’t particularly like, you’re wasting your tim e just for some extra money, but not getting any valuable experience in exchange.evalThis investment of your time and effort ultimately leads to a waste of your energy and patience as well.If you don’t like your job, but still ended up spending years within the same office, it’s best that you quit. Progress doesn’t happen without taking risks.And if you still believe you need the money and that it’s better to stay put, then learn everything you can while you work. Understand the requirements of the employers.Try taking part in various projects. In fact, you can even take online courses. Spend your time well and do anything that you can use within your line of work.3) Listening is a virtueevalThe ability to listen can save you from a lot of trouble. With this ability, you can fix many issues, as it fosters creativity, provides valuable perspective and also let the other people know that you’re paying attention.Listening to people is essential for acquiring a thorough unders tanding of situations. Without detailed knowledge, you can never solve a problem or barely identify the signs of it.If you’re not a good listener, you can challenge yourself to make a genuine effort to listen more than you talk and we promise the results will be rewarding.4) Learn as you goGather as much information you can about your surroundings, your area of work, and even the things that aren’t directly related to your line of work.Even when you’re moving ahead in your career, keep yourself motivated to learn new things and try to use that knowledge in your work whenever there’s an opportunity. If you have this vague idea that just because you have achieved something in life, you don’t have anything new to learn, then you’ll only be depriving yourself of the knowledge about the ever-evolving world.And if you don’t stay updated about new technologies and inventions, you’ll never be able to solve the issues of the modern world, as your old techniques won’t be of any use there.5) Never let your job title become your only identityFor most of the self-proclaimed “career-driven” people, their whole life seems to revolve around success, fame, and recognition.That’s their way of measuring their self-worth. But what they don’t realize until later is that when you run after fame or success, you let these factors control you.evalMaybe it’s time for you to gain some perspective on fame or success. Learn to look at the bigger picture and put your focus on a higher purpose, and that way you’ll be the best version of yourself and help others to bring out their best. Only by utilizing your talents for the benefit of others can you attain your prosperity in life.6) Know the significance of teamworkThe purpose of teamwork is to share ideas with your colleagues, making plans for a certain project, and more importantly to help each other grow. You need to understand that alone you may walk but with your team by your side, you can walk for long.So it’s perfectly alright to seek help from team members, and it’s also essential for you to be present when the team seeks your involvement.7) Failures or setbacks shouldn’t affect youLife presents endless possibilities, so never take failure to your heart. Even though it leaves bitter memories, failures are, as wise men say, the pillars for success. So treat failure like an experience you couldn’t have gathered otherwise.Rejections are very much a part of our lives. That’s why learning to cope with it early on, will prevent it from getting the better of you. While rejections will always hurt, but dwelling on it will only make the matter worse. If you have positivity in life, even the toughest times won’t seem so burdensome.eval8) Live your life beyond your cubicle or office deskAs mentioned earlier in the post, life shouldn’t only revolve around your work. There is so much happening every day, be it within your own family, friends, your community or the world, that you shouldn’t miss out on.If you want to spend quality time with your family, then remember to never take your work home. Of course, you shouldn’t completely ignore your professional commitments, invest your free time indulging in your hobbies or go out to meet your friends or read a nice book.Finding a proper work-life balance will contribute to your overall health and well being, and you will not feel weighed down with work and can carry them out with precision.9) Made a mistake? Admit it!You’ve probably heard this gazillion times that making mistakes is the first step to learning something. So why should you be ashamed to admit your mistake?Admitting your mistakes will not only keep your conscience clear, but it will also allow you to avert any consequences that may crop up in the future because of your actions.Also, people appreciate it when you’re upfront and truthful. In fact, that way you’ll be admired for your honesty. As they say, to err is human.10) Put your health over wealthYour wealth may come and go, but you will never get back your strength and vigor by staring at your laptop screen trying to perfect that presentation. Unfortunately, most people struggle to find a balance between their work and life and eventually succumb to various health conditions.And in the process, they don’t even get to enjoy the fruits of their hard work. Invest considerable time to keep your mind and body active, don’t let anxiety creep in, have enough sleep, eat right, and more significantly, DO NOT burn yourself out.11) Worrying will only make things worseSo what the meeting with investors didn’t go so well? So what you lost a client today? Ask yourself, will worrying about the issues change things back to normal? It won’t, and rather it will make way for stress or fear. The only way you can get over your fear is by taking some action.You will never be able to achieve the goals you had set out to achieve at the beginning of your career if you worry about the consequences. So even if you’re worried or anxious, push yourself until the things that you were worried about no longer matter. Have a little faith. Patience and perseverance always work in your favor.12) Enjoy the journey of your careerWhen it comes to the career, most people get so busy trying to reach the destination; they forget to appreciate the journey. So focusing on the journey more instead of the destination will allow you to develop a sense of gratitude.While there will be hurdles and challenges in work and life, focusing on good things always helps. You must look forward to your work and try to learn something new, that way the element of monotony will never find a place in your work. So cherish the journey of both life and work with an open mind and an open heart.Now we agree that just like relationships your career also needs some compromise and sacrifices, but what’s important here is to know where to draw a line. Simply chasing after success will do more har m than good for your career as well as your life.So learning these career lessons early on in life will prevent you from regretting the choices you make.

5 Questions to Ask in an Interview

5 Questions to Ask in an Interview 47 Flares 47 Flares Tom Gimbel is the President and CEO of LaSalle Network,  a Chicago-based staffing firm. Founded in 1998, LaSalle has served thousands of clients and candidates, placing job seekers in temporary, temporary-to-permanent and permanent positions. LaSalle is the only Illinois-based staffing firm named on the Inc. 500/5000 list for the last seven consecutive years. ReadTom’s latest on his blog, Past Five,  or tweet him @TomGimbel. Our firm interviews hundreds of candidates a week and too many of them commit one of the cardinal sins of interviewing, failing to prepare for one, crucial question: “What questions do you have for me?” An interview is a two-way conversation, and a lack of questions demonstrates a disinterest in the position and a lack of preparation for the interview. Asking intelligent questions is not only an easy way to impress the hiring manager, but it is beneficial for the candidate, too. It is an opportunity to evaluate if the company is a right fit for them. Here are five questions to consider asking in your next interview: 1. Why do you like working here? A candidate should never assume they will hear what is expected. It’s extremely important to see if the interviewer is happy, and find out why from them directly. Based off their answer, candidates can decipher whether or not it is something in line with what they are looking for. 2. What characteristics do you need to have to succeed in the role? This question demonstrates that the candidate is eager to excel, interested in career growth, and willing to commit to the company and their role within it. 3. What are the company’s long and short term goals? What are the biggest obstacles to achieving them? This proves the candidate is already considering how he/she can contribute to achieving the company’s goals. 4. Why is this position open? Understanding the nature of the vacancy will help the candidate better understand the urgency of filling the position. Based on the answer, the candidate can try to figure out whether the employee quit or was fired. If they quit, then you begin to wonder, why? Was the person in this role previously promoted? Fired? Quit? Is it a newly created position? The reason for the vacancy can say a lot about the company and who the right candidate for the role is. Maybe you are looking for a work-life balance and the previous employee quit due to 60-hour workweeks. 5. Do you have any hesitations about my background?   If you dont ask this question, employers are more than likely going to keep objections unvoiced and you lose any chance of counteracting the interviewers doubts about you. If you don’t ask any other questions during the interview, ask this one. It’s the single most important question.

Writing Resume For Jobs - Thinking About the Type of Employer You Want to Be

Writing Resume For Jobs - Thinking About the Type of Employer You Want to BeWhen you are preparing to write a resume for jobs, you will want to think about some things that you can do in order to impress employers. This is a time in your life when you should be thinking about how to stand out from the crowd. You may not always feel like doing this but it is a part of the process.One important thing you need to consider is the area you want to work in. Do you want to work in sales? Are you looking for a job in customer service? Whatever it is, the most important thing is to get as much information on the company as possible.A lot of companies will require you to send them a copy of your resume if you have one. If they do not ask for one, ask them if you can include copies of your previous work samples and portfolio.Also, include a resume or cover letter in your resource box. The resume or cover letter should make an immediate impression upon the reader. You want to show the employer y ou are prepared to work hard, take initiative, and demonstrate good communication skills. The resume should not be something you do only once and leave behind.Also, use the words 'I'me' a lot. The main reason for this is because they will seem more natural. To illustrate this, if you wrote the statement 'I was born with green eyes'I am a woman', you may want to stop for a moment and think about it. While it is true, these statements are true, the reader is probably not going to buy the line 'I am a woman'.Finally, do not send a resume or cover letter that is filled with numbers, dates, and text. If you do not include any type of fancy formatting, chances are the employer will not see it.Remember, the resume is the key to getting a job. As with any job interview, if you are prepared, you will have a better chance at winning the job.