2 jobs - i know nothing!

Elsterap

I am soon to be starting a new job which is 20 hours a week to accompany my 8 hour a week job, both around £5 an hour.

I am a part time student and am looking to fund my studies through these two jobs.

Will i be taxed more than if i had a job which was 28 hours a week? What forms will i need to fill in to get the appropraite amount taxed?

Also, i have earnt under £5,000 this year and so as such have not paid income tax as yet (but have been paying national insurance), does that mean if i now do start to go oer £5,000 i will get taxed a large amount?

fengirl_2

The tax free allowance for this year is £6035, so it doesnt look as if you will be liable in the y/e 5/4/09.
In the y/e 5/4/10, it looks as if you will pay 20% tax on anything over your tax free allowance of £6180.

Savvy_Sue

fengirl is right, I'm sure, but to be a little more detailed on this point:

Elsterap wrote: »

Will i be taxed more than if i had a job which was 28 hours a week?

You won't pay more TAX in the long term, possibly some adjustments will need to be made in the short term, or you may need to claim some back at the end of the year. Tax is added up over the year and if you've paid too much you get it back.

NI on the other hand is calculated every time you're paid, on all your jobs. On the 20 and 8 hours you quote, you should only be paying NI on the 20 hour job, but if you did overtime in the other one you might have to pay NI on that.

Elsterap wrote: »

What forms will i need to fill in to get the appropraite amount taxed?

OK, as I understand it you are currently working 8 hours per week and about to start a new, higher paid job. You won't have a P45 to give your new employer, so ask them for a P46. On that, say that this is your only or main job, so that you get your tax free pay there.

I think - and fengirl will know for sure - you can also give your current employer a P46 to alert them to the fact that you have a different job. If fengirl doesn't come back and tell me if I'm right or not, it would be worth you phoning your local HMRC office and asking them what to do, and whether you'll have any tax free pay left in your 'smaller' job. If you will, they can adjust your tax code there.

If you end up paying tax on your 'smaller' job, you'll need to claim it back at the end of the tax year. Bonus!