Second job - is it worth it re tax?

Miffi_2

From my full time job I take home £20,000 a year (before deductions) and have been thinking about getting a second job - perhaps doing something in the evenings or on a Saturday to earn extra money.

I'm currently selling a lot of my stuff on ebay, but I would like something a bit more consistant.

However, what is concerning me is will it be worth taking on an extra job (for e.g. bar work, working in newsagent, waitressing etc) when the money isn't brilliant and am I going to get heavily taxed???

If I do go for a second job I need to know it is going to be worth my while as I get pretty nackered from my normal job as it is......

Thanks in advance...

lynzpower

Hi there Miffi

Ive had the same problem, and Im on a similar salary to you .I found a job working in a shop, saturdays only, and after tax ( im in london though, may get a bit more than you do wherever you are) would have been £30 a day. For me it came down to do I need that money badly enough? The answer was no for me really.
I use https://www.i-resign.com for calculations.

However, there will be other jobs that pay more, making it more worth my while, or an evening job that pays better. Home care for elderly people pays better than shop work say, but you have to be a certain type of person for it to appeal.

Additionally, you could get a bar job, waitressing where the tips dont go through the taxman. If youve got a driving license look out for jobs delivering for asdas/sainsburys/tescos in the vans, as a supermarket employee you'll get a staff discount. there were quite a few of those jobs in my local tescos ( not brill money but every little helps prob about 7 an hour, but with the staff discount wouldve been worth doing. ( damn it it was pre-my lightbulb moment!!) Call centre pays well to, depends if you cn get it/ near/ convenietn for you etc.

Mark7799

Why do you think you need a second job?

If it's to earn more money, why? Are you spending more than you're earning at present in which case it may be that your spending needs reviewing instead. If it's to save more money then looking at where your money goes now may also be a worthwhile exercise.

If, as you say, you're 'knackered' from your main job, what effect will any extra job have on your health?

sarah_elton

Also check the contract for your first job - many big companies have clauses saying you're not allowed a second job.

As for whether it's worth it - depends what you mean by worth it. You'll never lose money. Your free tax allowance is all used up on your first job. Whatever percentage you pay on the top part of your income, probably about 22%??, you'll pay that on everything you earn from your second job, so you can work it out from there.

Miffi_2

Thanks for your replies. I was thinking about getting a second job for the short term, maybe just for a few months to put some extra cash aside. But I think I should perhaps take a closer look at my spending and budget first as may be able to make more positive changes there.

I am rather reluctant to get a second job, but wonder whether it would be a good quick fix to getting extra money.

I seem to be having some success with ebay, so for the time being will stick with putting stuff on there.

I will look around though to see what extra work is in my area, you never know...!

lynzpower

Hey miffi, the other suggestion if you are doing well out of ebay is to look round the jumble sales and see if theres anything you can stick on ebay? My mate got 2 pairs of tommy hifiger jeans for 20p a pair with the labels on and each pair sold for a tenner.

Dont get yourself lumbered with a load of "duff stock" though will you xx

Donedoingdebt

sarah_elton wrote:

Also check the contract for your first job - many big companies have clauses saying you're not allowed a second job.

As for whether it's worth it - depends what you mean by worth it. You'll never lose money. Your free tax allowance is all used up on your first job. Whatever percentage you pay on the top part of your income, probably about 22%??, you'll pay that on everything you earn from your second job, so you can work it out from there.

Don't forget the NI on top of the tax which I believe is 7%.

lynzpower

There was some discussion about "2nd job" in the contracts done my UNison some time ago. It was decided that, the employee couldnt take on a second job if it conflicted with the aim of the organisation that the first job was for. In question, there was no answer to the question of what sort of job would conflict. It wasnt the hours, more the purpose of the 2nd job. The only example I could come up with was workig as a vegetarian parliamerntary lobbyist, and workig part time in an abbatoir. Make sense?

Check with your trade union, most say that the reason you have to take a 2nd job is cos the 1st doesnt pay enough.

amosworks

lynzpower wrote:

in my local tescos ( not brill money but every little helps prob about

Sorry, totally off-topic but it seems as though Tesco have your subliminal well trained lynzpower :D:D

Sorry for being weird and pointing that out lol

Chell

lynzpower wrote:

I use https://www.i-resign.com for calculations.

Thanks for that, its fab. DP is changing to a job with £1000 a year less pay and I was able to work out thast he will have approx £56 less each month, its good to know where we stand.

I am quite lucky as I work for a college. I am able to do work in the college bar and have applied to invigilate for them so I won't be taxed at all (don't earn enough as I'm mainly a SAHM).

Is there anyway you can get extra work for your present employer?