Tax on 2nd Job: Worth it?

jack.mcconnell

Hi,

I know there have been a few posts about this, but i am a bit lost and really don't know much about this so hopefully someone can help me out.

I have a job where i work 4 days a week (Monday through Thursday) and earn £1000 a month AFTER tax and national insurance. I would like to work on a Saturday at a different job. The pay for this would be £6.50 per hour therefore earning me £48.75 a day (i'm presuming they take out a an hours pay for lunch) and therefore £195 a month BEFORE tax and national insurance.

What i would like to know is whether or not it would be worth me working this extra Saturday job or not. Will i actually bring home an amount that is worth anything at all, or will i be working extra for not a lot more making it not worth it?

To clarify also, i cannot do any more hours/days at my current 4 days a week job.

Any help would be much appreciated!

Many thanks,
-Jack

whiskywhisky

You will take home around £150 a month, therefore just under £40 per Saturday.

Whether this is worth it - well how does an extra £40 sound to you?

For some people this extra money will be very helpful, whereby some people will not even bother getting out of bed for it.

Chinkle

This will count as a second job, on which you'll pay basic rate tax and NI on the full amount you earn.

Only you can decide if it's worth while taking up the job - losing your Saturday v having a little extra cash.

chrisbur

Provided that this second job had no connection with the first job, as the earnings are under the NI threshold (£476 a month at the moment) there would be no NI to pay. You would just pay 20% tax on your earnings.

jack.mcconnell

chrisbur: Does your answer concur with whiskywhisky's answer then?

The two jobs aren't related at all. The first is an IT job for an Archaeological firm and the second is a Drum Department Sales person in a music shop.

Many thanks for all your help so far

-Jack

CLAPTON

NI contributions are paid on the amount you earn over 110 per week so the OP will pay no NI in this job

tax wil be at 20% (BR tax code.)

jack.mcconnell

CLAPTON: What's the OP? What does it mean/stand for?

jackieb

jack.mcconnell wrote: »

CLAPTON: What's the OP? What does it mean/stand for?

OP - original poster

jackieb

Oops sorry Clapton. I never noticed the question was directed at you.

chrisbur

jack.mcconnell wrote: »

chrisbur: Does your answer concur with whiskywhisky's answer then?

The two jobs aren't related at all. The first is an IT job for an Archaeological firm and the second is a Drum Department Sales person in a music shop.

Many thanks for all your help so far

-Jack

On £195 a month you will get a net of £156. This could be seen as "around £150" so I guess we could be seen as concurring.
In your original question you give an hourly rate which you have worked out a daily rate from and then a monthly rate; but the monthly rate you worked out is actually the four weekly rate. If you are paid monthly then four months each year should have five Saturdays in them.

jack.mcconnell

Ah ok!

Thanks very much. Well that's not an insignificant amount at all so i think i'll be going for that!

Thanks very much to you all
-Jack