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Student Loans & Second Jobs
njsoper
Posts: 1 Newbie
in Cutting tax
Can someone help?
I have two jobs, both of which using PAYE. My main job deducts Student loan payments, but my second doesn't as I only earn £2500 in that employment. This seems correct when I read the details that the student loan company issued - that the threshold is applied independantly to each employment.
However, as I'm a director of another company, I have to fill in a self assessment tax return. It now appears that HMRC are going to make me pay more deductions as they considered the threshold only once for all employments.
Does anyone know if thats correct? If so, how can they get away with this?!
I have two jobs, both of which using PAYE. My main job deducts Student loan payments, but my second doesn't as I only earn £2500 in that employment. This seems correct when I read the details that the student loan company issued - that the threshold is applied independantly to each employment.
However, as I'm a director of another company, I have to fill in a self assessment tax return. It now appears that HMRC are going to make me pay more deductions as they considered the threshold only once for all employments.
Does anyone know if thats correct? If so, how can they get away with this?!
0
Comments
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It obviously seems right that it should be based on total earning rather than individual earnings.
It's probably just too difficult to work it out for people in several PAYE employments but Ok for self assessment. I guess there are other compensating benefits of being a company director.0
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