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Author 2nd job and tax question
chr15barn3s
Member

Registered: 5th Oct 03
Location: Farnborough
User status: Offline
29th Nov 06 at 23:35   View User's Profile U2U Member Reply With Quote

Im thinking of getting a 2nd job, a couple of evenings and sunday somewhere.

Am i right in thinking I will be taxed at the normal rate on this and my current job? So 20% plus national insurance on each?
mav
Member

Registered: 19th Jun 01
Location: Scotland
User status: Offline
29th Nov 06 at 23:36   View User's Profile U2U Member Reply With Quote

is it not higher tax for 2nd job?
James
Member

Registered: 1st Jun 02
Location: Surrey
User status: Offline
29th Nov 06 at 23:45   View User's Profile U2U Member Reply With Quote

quote:
Originally posted by mav
is it not higher tax for 2nd job?


I dont think its a higher rate, but you dont get the £4k allowance like you do with one job.
chr15barn3s
Member

Registered: 5th Oct 03
Location: Farnborough
User status: Offline
29th Nov 06 at 23:47   View User's Profile U2U Member Reply With Quote

Thats what I thought. Id still get the free allowance in my main and current job and the second job is fully taxable.
Colin
Member

Registered: 4th Apr 02
User status: Offline
30th Nov 06 at 00:07   View User's Profile U2U Member Reply With Quote

Unless its cash under the table I wouldnt bother as you probably wont make much!!

I thought about getting a part time job to make some pocket money while going to college but im due a couple grand back in tax from April - Sept earnings & any money I make will be consumed by tax so not worth giving up my weekend!!

If I can find a wee cash in hand number i'll be there but not many of them these days!
James
Member

Registered: 1st Jun 02
Location: Surrey
User status: Offline
30th Nov 06 at 00:22   View User's Profile U2U Member Reply With Quote

Chris what's life like in Farnborough?

Looking for cheap property near me and it seems Farnborough or Aldershot is the cheapest.
richardworrall
Premium Member

Registered: 20th Sep 05
Location: Derby
User status: Offline
30th Nov 06 at 07:32   View Garage View User's Profile U2U Member Reply With Quote

you can claim exemption from NI for your second job if your earnings for the tax year will be under £4300 or thereabouts, this is because you only need to pay it once through your main job.
Aaron
Member

Registered: 9th Aug 04
Location: Cottingham, East Riding
User status: Offline
30th Nov 06 at 08:12   View User's Profile U2U Member Reply With Quote

I think you get taxed on emergency tax rate on the second income once your total earnings go over 33K

thats what i've been told anyway
Jamie
Member

Registered: 1st Apr 02
Location: Aberdeen
User status: Offline
30th Nov 06 at 08:47   View User's Profile U2U Member Reply With Quote

Your tax code becomes *BR* which is basic rate and you'll get taxed 22% on your second job
Ant
Member

Registered: 12th May 02
Location: Hereford and Worcester
User status: Offline
30th Nov 06 at 09:24   View User's Profile U2U Member Reply With Quote

people who say its not worth getting a second job because of the tax baffle me, getting a second job which pays 5k a year will see no less in your pocket than if you had a 5k a year pay rise in your main job.
Robbo
Member

Registered: 6th Aug 02
Location: London
User status: Offline
30th Nov 06 at 09:24   View User's Profile U2U Member Reply With Quote

Like J-Me said (unless your a higher rate tax payer where you'll pay at the flat rate of 40%)

(I'm an accountant)

Also you'll pay NI @ 1% of all earnings
chr15barn3s
Member

Registered: 5th Oct 03
Location: Farnborough
User status: Offline
30th Nov 06 at 19:26   View User's Profile U2U Member Reply With Quote

Cheers guys
Paul_J
Member

Registered: 6th Jun 02
Location: London
User status: Offline
1st Dec 06 at 09:38   View User's Profile U2U Member Reply With Quote

I think i've been screwed by this...

I was working at legoland windsor as a summer job, then started my placement year - so never left my summer job officially until after I had started my placement job.

Placement job is proper full time work.

But I'm getting tax'd to fuck, like a 1/3 rd of my wages disapears in tax / N.I.

What's more, I should've still been having my 'allowance of money I can earn etc'

Spoke to my mate who's also on his placement and he said he only gets N.I and for the last 3 months he's not been taxed at all and won't be till he hits his 'allowance' of money, and then will get taxed at a low rate. He also said as our jobs fall over 2 tax years our allowance should be like 4 - 5 k each year, meaning should only get taxed on the remainder.

I'm getting taxed hard on everything I earn

If I sit back and take it as it is, will I automatically get a rebate, or do I have to make a fuss to get it known?
Fee
Member

Registered: 16th Nov 05
Location: With AK
User status: Offline
1st Dec 06 at 09:40   View User's Profile U2U Member Reply With Quote

i thought you got taxed more too on a second job...I'm pretty sure I did

 
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