Page 1 of Tax on second job?
General Forum
Hi. I am having to find another job to go along side the one i got now but i am wondering have much tax you have to pay on the second job you get?
Standard rate unless it takes you over the £40k (?) ish threshold for higher rate.
You don`t get a second tax code though so the whole second salary will be taxed.
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Could someone please
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From my knees...
Take a look at this:
www.thesite.org/homelawandmoney/askthesiteqandas/moneyqandas/joyoftax
Depending on how much you earn from each one, you can ask the tax office to split your tax code for each one. But it might not be worth it (in my experience it simply causes more hassle than it`s worth).
A lot of employers will simply apply the an emergency/basic rate (22%) on all income until they can work with the tax office to determine what they should be doing.
It will then probably be up to you (at the end of the tax year using your P60s) to work out how much you`ve earnt and how much tax you`ve paid to see whether you`re owed any money back from the Inland Revenue.
"Build a man a fire, and he`ll be warm for a day. Set a man on fire, and he`ll be warm for the rest of his life."
-Terry Pratchett.
I will not be earning more than 30k with both jobs. Th first job is 4 days and the second job i hope will be 2 10pm-2am. so i will be taxed on all of the second job so i will have to see if its worth me to take a second job or to look for 1 full time job?
Then in which case you won`t be losing out really.
You`ll just get taxed 22% on all money received from the second job, which is effectively the same as earning more on your first job.
"Build a man a fire, and he`ll be warm for a day. Set a man on fire, and he`ll be warm for the rest of his life."
-Terry Pratchett.
Quote:
I will not be earning more than 30k with both jobs. Th first job is 4 days and the second job i hope will be 2 10pm-2am. so i will be taxed on all of the second job so i will have to see if its worth me to take a second job or to look for 1 full time job?
It`s irrelevant whether you have 2 jobs that pay (say) £27k in total or one job that pays you £27k the amount of tax you pay will be the same
Remember whilst you`ve just been told all of your second job income will be taxed all of your tax free pay (tax code value) is being deducted from your "main" job.
If you had one job then the tax free pay would be "spread thinner" on the total salary you receive
YNWA
A.C.C
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A Tribute - to remind us all of the good doc whilst his posting capacity is reduced. . . . . . . . . .