Second job - tax implications

scottishspendaholic

Hi everyone,

I'm usually over in DFW so hope its okay to post here! If the info is elsewhere on this board, please just post the link.

I already have a full time job and am considering taking (a £5/£6 an hour) 2nd job for a couple of weekends a month. How do I work out the tax on this and what do I need to tell the taxman - will my new (2nd job) employer work it out for me and tell the taxman?

I have never had any direct dealing with the IR as I am a PAYE employee and just sell my old stuff on eBay so don't pay tax on this.

Thanks very much in advance for your help!

scottishspendaholic x

cheghead

You just need to fill out a P46 from your new employer. If you are over your taxable allowance it probably wont matter as you'll pay 22% tax anyway.

clarew

just to add to that, should you be paying national insurance contributions on a 2nd job?

i work 65hours a month in nhs, (paying tax+ni+pension), and 30hrs a month in private sector (paying basic rate tax+ni) is this correct?

i am cr*p at this financial business!

superjames4

yes you have to pay NI on the 2nd job also - otherwise someone working 95 hours in one job would pay more than someone working 95 hours spread over 2 jobs - and that's not fair!

reddevilled

superjames4 wrote:

yes you have to pay NI on the 2nd job also - otherwise someone working 95 hours in one job would pay more than someone working 95 hours spread over 2 jobs - and that's not fair!

You only pay NIC on your second job if that job is over the threshold of £80 a week (or whatever it is!). Your two jobs are not aggregated to work out how much NI you pay UNLESS you qualify for a rebate becuase you have paid too much.

Doesn't sound like you're in this position though.