Second job tax code?

jem16

secondtoughest wrote: »

Do you pay NI on a BR tax code, if you pay it with your main job?

Yes you will.

Lea21

Hi there, im after some help. i work part-time and earn £6,094 per annum and pay little tax. However i have just taken an additonal part time job only earning £4,555 per annum. how much tax would i have to pay on this second job? is it still 20%? also i have had the opportunity of reducing my hours on my first job so this would mean i would not earn enough to pay tax on my first job, would this be of benefit to me? any help appreciated the tax system confuses me!

CLAPTON

you pay 20% tax on any earnings over 6035

so if your first job is coded 603L (previously 543L) then your second job will be coded BR and you will pay 20% tax.
there is no point in reducing your earnings on the first job.

jem16

Lea21 wrote: »

also i have had the opportunity of reducing my hours on my first job so this would mean i would not earn enough to pay tax on my first job, would this be of benefit to me?

As Clapton says it won't be of any benefit to reduce your hours - you will simply have less money.

However if you do reduce them you might end up overpaying tax on your 2nd job and having to claim it back at the end of each tax year. More hassle in my opinion.

Lacey101_2

Hi Guys, i'm pretty sure this question has been basically answered during this thread but i'm still a little unsure on the NI contributions.
Basically i currently have a main job which I earn £16,500 Gross and recently have got myself a part time bar job to help save to go travelling. This pays £6 p/hr, and I will be roughly working 12 hours a week (£72), so I can see I will be taxed on this at 20%, but will I also get NI tax on this? someone earlier in the thread said that as long as its under £105 a week you will not, but then someone else later on seemed to think you would pay NI? any help appreciated! Thanks.

CLAPTON

Lacey101 wrote: »

Hi Guys, i'm pretty sure this question has been basically answered during this thread but i'm still a little unsure on the NI contributions.
Basically i currently have a main job which I earn £16,500 Gross and recently have got myself a part time bar job to help save to go travelling. This pays £6 p/hr, and I will be roughly working 12 hours a week (£72), so I can see I will be taxed on this at 20%, but will I also get NI tax on this? someone earlier in the thread said that as long as its under £105 a week you will not, but then someone else later on seemed to think you would pay NI? any help appreciated! Thanks.

NI is paid at 11% on weekly amounts above £105 per job... so you will pay no NI on earnings of £72 per week

Merlin_Accounts

Lacey101 wrote: »

Hi Guys, i'm pretty sure this question has been basically answered during this thread but i'm still a little unsure on the NI contributions.
Basically i currently have a main job which I earn £16,500 Gross and recently have got myself a part time bar job to help save to go travelling. This pays £6 p/hr, and I will be roughly working 12 hours a week (£72), so I can see I will be taxed on this at 20%, but will I also get NI tax on this? someone earlier in the thread said that as long as its under £105 a week you will not, but then someone else later on seemed to think you would pay NI? any help appreciated! Thanks.

So long as the 2 employments are not associated with one another (same company/same place/same employer) then the 2nd job is subject to national insurance rules in same way as the first job, ie first £105 per week is free of national insurance; over that and you pay 11% on the amount in excess of £105.

Lacey101_2

Hi, Thanks for clearing that up.

secondtoughest

So long as the 2 employments are not associated with one another (same company/same place/same employer) then the 2nd job is subject to national insurance rules in same way as the first job, ie first £105 per week is free of national insurance; over that and you pay 11% on the amount in excess of £105.

I am on 603L with my first job.

On my second job I get paid minimum wage and work 20 hours per week.

£5.73 x 20 = £114.6

I get deducted NI on anything over £105

£114.6 - £105 = £9.60

11% of £9.60 is £1.056

£114.6 - £22.9 (20% tax) - £1.056 (NI) = £90.64 (take home wage)

Is this correct?

dzug1

secondtoughest wrote: »

I am on 603L with my first job.

On my second job I get paid minimum wage and work 20 hours per week.

£5.73 x 20 = £114.6

I get deducted NI on anything over £105

£114.6 - £105 = £9.60

11% of £9.60 is £1.056

£114.6 - £22.9 (20% tax) - £1.056 (NI) = £90.64 (take home wage)

Is this correct?

Yes it is


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