Started 2nd job, how to mak sure not getting taxed too much

MrsE_2

littlepinkstars44 wrote: »

Morrisons: £54 a week/£216 a month (depends on sundays as time and a half)

McCalls: £93.6 a week/£374.4 a month

Sharing your Personal Allowance between jobs/pensions

Avoid paying too much tax if you don't pay tax on your main job

If you don't pay tax on your earnings from your main job and you're not using all of your Personal Allowance you can tell us to use what's left in your second job. If you don't do this you could end up paying too much tax. You can share your Personal Allowance across several jobs or pensions until it's all used up.
Example: your Personal Allowance is £6,475 (tax year 2009-10) and you have PAYE income from two jobs - income of £3,500 from your main job and income of £1,500 from your second job. You can tell us to use £2,975 of your unused Personal Allowance (£6,475 less £3,500) from your main job against your income from your second job so that you don't have to pay tax on either income.

You can split it between the two, are they both fairly secure or just holiday work?

littlepinkstars44

no will be working away when i start uni as well. Getting 30 hours the now in McCalls, but going down to 16 when uni starts. So those figures are based on the 16 hours when i start

MrsE_2

Ring your tax office. If you are not on wk1 or mth1 one then you probably won't be paying tax on your money now, as I'm guessing you haven't used any of your TA between now & April 09 (that you've haven't been working)?

littlepinkstars44

No i've been working in Morrisons since June 2008, but have never paid any tax in my entire working life (been working since i was 16)


I just started a second job in McCalls on Monday, and have done 30 hours this week and doing 30 next week, as well as 15 hours in Morrisons this week, and 11 hours in there next week.

Savvy_Sue

I would give both jobs a P46 - the one where you're expecting to earn most say it's your main job (if you still get that option), and the other one say it's not your only job.

But you could also phone HMRC and ask for their advice on how to best use your tax code.

littlepinkstars44

I got paid from Morrisons yesterday, and got £506 cause i've been doing extra shifts. I didn't get taxed...well i don't think i did (no payslips in yet) But i was only expecting about £430ish

But i get paid in 2 weeks from McCalls, so will i be taxed on that? Or will i get emergency taxed do you think?

iamana1ias

littlepinkstars44 wrote: »

I got paid from Morrisons yesterday, and got £506 cause i've been doing extra shifts. I didn't get taxed...well i don't think i did (no payslips in yet) But i was only expecting about £430ish

But i get paid in 2 weeks from McCalls, so will i be taxed on that? Or will i get emergency taxed do you think?

This thread is frightening. You will most likely get taxed at BR (20%) on your second job. Then when you get your 2 P60s in May next year you can get any overpaid tax back by sending them to the Tax Office. How can you have been earning since you were 16 and not have a clue about tax?

"Students don't pay tax" :rotfl::rotfl::rotfl::rotfl:

littlepinkstars44

iamana1ias wrote: »

This thread is frightening. You will most likely get taxed at BR (20%) on your second job. Then when you get your 2 P60s in May next year you can get any overpaid tax back by sending them to the Tax Office. How can you have been earning since you were 16 and not have a clue about tax?

"Students don't pay tax" :rotfl::rotfl::rotfl::rotfl:

I've never paid tax, except from being emergency taxed when first starting a job, but then my manager would sort that out.
I don't even know what tax is all about, or what its for!

i have to wai till next year??? Are you for real? whats the point in working then, when you get money taken off you!! Thats why i'm doing 2 jobs, for the money!

Savvy_Sue

I blame the parents, but I find it absolutely terrifying that the brightest and best of this nation's youth, the hope for our future according to one of the honorary graduates at DS1's degree ceremony could say ...

littlepinkstars44 wrote: »

I don't even know what tax is all about, or what its for!

But I will try to remember that there is no such thing as a stupid question. Honest, I'm being nice!

There is a guide to Income Tax on the HMRC website. And there is another on the CAB website, which I think gives a good overview of how it works.

littlepinkstars44 wrote: »

i have to wai till next year??? Are you for real?

In the grown up world, yes, we do sometimes have to wait for things. However, if you phone your local HMRC office, and can understand what they're asking you, and can supply the information they need (like who your employers are, and what your earnings in the current tax year are expected to be, and whether there are likely to be any changes), then you may be able to have your tax code split between two jobs and continue to not pay tax on either job. This will not be because you are a student, but because there is a reasonable expectation that you will not earn more than your personal allowance during the current tax year.

But given that you are expecting your earnings in each job to vary over the course of the year, I wouldn't hold your breath for this.

littlepinkstars44 wrote: »

whats the point in working then, when you get money taken off you!! Thats why i'm doing 2 jobs, for the money!

Of course you are working 2 jobs for the money, dear. Very few of us are working for the sheer joy of it, however much we love our jobs. And if we could all get by without paying any tax, we would. In case you hadn't realised, you will continue to get money from both jobs, the tax man never takes it all away under PAYE (Pay As You Earn). In fact the MOST you will lose from your second job is 20%.

I realise this is completely scandalous, but given what you've said about not knowing what tax is all about, I have to say I'm relieved we have a PAYE system, which means that your employer deducts tax once your gross wage goes over a pre-set limit, and gives it to that nice Mr Darling and his army of civil servants, so that we can all enjoy the NHS, state education, universities, roads, the benefits system etc etc etc. Because otherwise, shock horror, you would have to work out for yourself how much tax you owed at the end of each year, as self employed people have to, and actually hand it over to the government in a timely fashion. And goodness me, not knowing what it was all about would be absolutely NO excuse for having spent it all without putting any of it by!

Now, if you put your earnings into the listentotaxman calculator, you'll be able to find out how much tax you need to pay.

You have been warned that once you've stopped studying, as well as paying income tax, those nasty student loan people will expect to be repaid too? And that's ON TOP of tax and National Insurance.

Savvy_Sue

BTW, next time I am sitting down with my 3, I am going to check that they all know what tax is, and how it works. I am fairly sure I've already gone over the basics with them, and I KNOW I've told DS1 to check what he needs to do for self-employment because his current income seems more likely to come that way than through working for someone else ATM, and it is possible that DS3 (17) will be as horrified as you at the idea of not having any automatic rights not to pay tax while he is a student. But he's an idle beggar and has never worked!