2nd Jobs....Please can someone help??

lazy&indebt

Good Morning Y'all.

Got myself a second job. Please can comeone tell me how much I will be taxed on this second income? my new employer seems to think that it's 25% but I cannot find any information on the internet that backs this up or states otherwise....can someone please help me?

notmyrealusername

I work full time earning around 20k, my second job is part time 8 hours per week . The earnings from both jobs DO NOT take me to the band of high rate tax payer and so I get taxed at basic rate which is 22%. I don't pay any NI on the second job as you get the NI allowance for EACH job. If I do more hours, ie 16 in a week I get NI contributions deducted but it was around 40 pence last time.

Hope this helps.

lazy&indebt

Thank you very much 'notmyrealusername'

Do you think my new boss is trying to pull a fast one by telling me it's 25%?

CLAPTON

i doubt if your boss is trying to full anything here, it depends upon whether he personally works out the wages..if he doesn't he probably donesnot know exactly how it works......but of course make sure you check your payslip carefully

susie76

Probably not so much trying to pull a fast one, as just knowing that tax is roughly 1/4 of what you earn - loads of people don't know the exact figure. You use all your allowances in your main job, and as far as i know, NI on any job where you earn over the NI threshold (around £90 a week i think), NI is , i think, 11% of anything over the threshold.

bluezone

I think he is just presuming what it is and to be honest if you work it out as 1/4 then you will have a bonus when you get paid

BettyDebt

I work two jobs and my total deductions from my 2nd job is 25%

Daddyo

Quote from our accountants at work:

"You would be taxed on a BR code (basic rate 22%) as you already have your tax allowances at XXXXX. If you were to earn over £97.00 per week then you would also pay National Insurance.

Hope this helps"

james32_uk

Surely you just get taxed as though is was additional pay for your first job. IE no allowance, just straight into whatever band you are in with your primary wage?

debtfreelondon

For this year only (2006/07) and up to the end of March 2007

If you earn more than £7,185 (£5,035 personal allowance plus £2,150 taxed at basic 10%) per year in your first job you will pay tax at 22% on those earnings.

If you don't earn over £7,185 in your first job, you will need to speak to HM Revenue to get them to allocate your personal allowance (£5,035) across both your employers or you will end up paying too much tax.

National Insurance is payable at 11% for earnings over £97. If you're lucky enough to earn over £645 per week you pay 1% on earnings after that.

If both jobs combined give you earnings over £645 you will have to reclaim to overpaid NI as you will pay 11% for each job up to £645.

lazy&indebt

Confusing. my main job gets me about £17,500 pa (before tax!) and my second job will be about £50 per week.