Two jobs and Tax?

Stellar_Star

I have worked for Tesco for about 3 years. I pay NI and Tax on a small scale because I only work on Saturday and Sunday.

I now have a full time job Mon-Fri, of which I'll be earning around 17k. What do I do now?

I heard the Government charges a lot of a second job, but I wouldn't class this new job as a second job, and is now my main one, with Tesco being my second job. Is there anyway of telling HMRC that I want to switch my jobs around? I don't really want to pay not much tax on the Tesco job and a lot of tax on my main job because it's my 'second job'.

Also, I've heard that regarding tax free allowances, if I earn under so much money (Which I will do now for Tesco) that I transfer the surplus tax free limit to another job, of which I would get a small percentage tax free but I assume that I have to inform them that I want to do this right?

Any help with clarification?
Thanks

chriiiiiiiis

You have a tax free allowance this year of £6035 - you can earn this much before you start to pay tax.

You're going to exceed your tax free allowance at your new job, so everything that you earn at Tesco is going to be taxed at 20%.

You need to call the tax office that deal with your new employer. They are now responsible for dealing with your tax records and have the ability to switch your tax codes.

You'll get their telephone number from your employers payroll/wages/finance department.

Stellar_Star

I will contact them tommorrow, thankyou!

Just to point on something you said, that my Tesco job would be also taxed at 20% as my second job? My friend (incidentally manager at Tesco) said it would be 25% on a second job!

jem16

Stellar_Star wrote: »

I will contact them tommorrow, thankyou!

Just to point on something you said, that my Tesco job would be also taxed at 20% as my second job? My friend (incidentally manager at Tesco) said it would be 25% on a second job!

Your friend is wrong - it's 20%.

SKIPPY

Yor tax allowance should be applied to your main job i.e your new job and Tesco tax code should be BR meaning your taxed on every penny you earn in your second job (Tesco's)

Robertpestonrules

When do you rest!!!!

Stellar_Star

Rest? Never heard of the word! I just get bored, I dislike days off.

Thanks for the clarification guys, I appreciate it.

danny69

also, you will get a N.I allowance which is equal on both jobs. So you will pay less N.I. compared to somebody having a full-time job (provided you earn over £104 a week at Tescos). It is a myth that having two jobs attracts a higher tax rate. Obviously you will pay more tax than you do now on your Tescos job. If you ask your new employee for a p46, that will ensure you pay the correct tax. You need your tax free allowance on your new job, because you wont earn enough in a year on your Tesco job to cover your tax free allowance. I have just started a second job aswell. I like working all the time. More money, and less time to spend it! Its the best way really. I like to be busy, and having two jobs gives you that variety, although im sure your manager at Tescos has told you differently!

mtem74

2nd jobs are better in a way depending on what you earn. If your below the NI rate on a 2nd job you don't pay it, but if you earned the same amount on say over time in your main job then you'd have to pay NI.
might not seem much but just think how much you could save in NI over 12 months