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Second Job Tax

Discussion in 'Personal' started by gremlin01, Apr 25, 2011.

  1. Hi all
    I am starting a weekend job and wondered how this would be taxed. Have tried looking it all up but am baffled by the different tax codes and options. I have done this previously and the tax office somehow muddled the codes so am already going to be paying back more in tax this year to make up for the mistake last year. This is why I want to keep more of an eye on being paid the correct amount so I don't have to repay it.
    One of my friends has also said it won't be worth doing a part time job and wondered if she was right. I am currently on M3 and will be getting paid minimum wage and doing 8 hours a week.
    Thanks for your help
     
  2. Now that tax has changed, I'm not sure but About 2 years ago I did bar work and I got taxed 20% for that job. Hope that helps slightly.
     
  3. lapinrose

    lapinrose Lead commenter

    You'll get taxed at the full rate as your personal allowance is offset on the pay from your first job. That is unless the combined incomes reach a certain level, can't remember what it is, but I was thinking £40,000, then you pay the higher rate.

    I had this when teaching and doing some TEFL during the holidays.
     
  4. It is very simple. In your fist job you will get a code number which is what you are allowed to earn before tax and the rest of your pay is taxed. In a second, third of forth job you will get a tax code BR which means basic rate and pay tax on everything you earn in that job. At the end of the year you will probably get a tax rebate if you claim for it.
     
  5. Richie Millions

    Richie Millions New commenter

    If you are earning as Lapinrose suggests £40,000 then 40% on the minimum wage tax would make it as your friend suggests totally unworthwhile for financial gain. At six pounds an hour you would earn £48 and then pay nearly £20 of that to the taxman. Why bother?
     
  6. You can choose which job you set your tax allowance against. You can claim back some of the basic rate tax at the end of the tax year up to your allowance.
     
  7. Thanks everyone for your responses
     

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