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tax implications for 2nd job
Lukey84
Posts: 18 Forumite
Hi,
Sorry if this has been answered all ready but I couldn't find anything after looking through the numerous forum pages!
I am looking to get a 2nd part time job to pay off some debts and was wondering what the tax implications would be.
I am currently earning £16100 a year and am looking to work an extra 10 or so hours a week at minimum wage.
Was just wondering if anyone could help and let me know what the tax implications would be as anything about tax really confuses me!!
In the most simple plain language that a numpty like me could understand would be good!!
If you need any more information, please let me know!
thanks in advance
Sorry if this has been answered all ready but I couldn't find anything after looking through the numerous forum pages!
I am looking to get a 2nd part time job to pay off some debts and was wondering what the tax implications would be.
I am currently earning £16100 a year and am looking to work an extra 10 or so hours a week at minimum wage.
Was just wondering if anyone could help and let me know what the tax implications would be as anything about tax really confuses me!!
In the most simple plain language that a numpty like me could understand would be good!!
If you need any more information, please let me know!
thanks in advance
0
Comments
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My understanding is that you will be taxed at 'basic rate' which is 22% on your second job - so the taxman will get 22% of those earnings. The tax on your first job will remain the same.0
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The basic rate of tax is 20%. The first £110pw of your second job is free of NIC and you will pay 11% on the balance.£705,000 raised by client groups in the past 18 mths :beer:0
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If you claim working tax credits they may be affected if your income increase.0
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