From 6 April an employer making a share-based payment – in the form of securities, interests in securities or securities options – to an employee who has left the employment will be required to use the PAYE code 0T, instead of BR, where the payment was not entered on the leaver form P45.
The change will mean that all post-employment earnings are subject to the code 0T (zero T). Tax will be deducted at basic, higher and additional rates depending on the level of PAYE income.
From 6 April an employer making a share-based payment – in the form of securities, interests in securities or securities options – to an employee who has left the employment will be required to use the PAYE code 0T, instead of BR, where the payment was not entered on the leaver form P45.
The change will mean that all post-employment earnings are subject to the code 0T (zero T). Tax will be deducted at basic, higher and additional rates depending on the level of PAYE income.
