Moving Job - 2 wages overlapping??

[HomersCash]

Hi,

All going well, starting a new job in the new year.
I'm carrying over holidays in current job to new year.

Wages / Tax - with my holidays being carried over, I'll be getting paid for the entire month of January by current company
But I'll start in new company before the end of January, so there'll be a week or so overlap, presume this means I'll be getting paid by two companies...

Is the only implication that I get hit with a lot of tax for the week to 10 days? Is there an obvious tax efficient way of doing this? Or am I missing something obvious altogether.

Thanks in advance

 

[Humpback]

Simple answer, no. If you're company does it right. Happened to me recently.

You'll have a finishing up on date x, with your holidays (theoretically the 10 days after that.

However, you're actual end date for employment with current company will be date x as well - for your P45.

Your employer should then include your 10 days holiday pay in your last paycheck previous to you finishing up (if it's not too late). Though, if its in a subsequent payroll cycle, this doesn't matter, I think.