2 jobs - tax and tax code question?

jem16

Rukia12 wrote: »

How will this affect my tax and would it be 2 tax codes or joint pay as its 2 contracts and 2 roles? I am currently paying student loan and tax code is 747L.

It will make no difference as you main job is already over the personal allowance. Just make sure if it's paid as 2 separate jobs that your tax code on the 2nd job is BR and not 747L again.

Not sure how it would work with the student loan though.

Rukia12

thanks for the response.

suso

Rukia12 wrote: »

Hi,

Sorry I am new to this so not sure if i have done this the right way.

I am currently working 28 hours a week for £18 (£26208) an hour.My employers would like to offer me another day a week for 15.10per hour (5500year) under a different role.

How will this affect my tax and would it be 2 tax codes or joint pay as its 2 contracts and 2 roles? I am currently paying student loan and tax code is 747L.

Please help, I am not sure what is the most beneficial for me and I need to sign the contracts by thursday.

Many thanks

if you work for the second role and it is treated as a second employment, (ie you have a seperate contract, and or payroll number) you need to complete a P46 and say you are already have another job, this will put you on a code of BR which is correct

Student loan deductions will not take place from the second job as it is below the threshold of 15000

you will also receive a job allowance for NI contributions on the second job so you wouldn't be paying NI on that employment.

If the employers just add it to your first employment as additional pay then student loan deductions will be valid and also NI contributions will be valid

Robo1507

Right having got me moneysupermarket email today though would look up something around my tax code and i am totally confussed.

Can any one shed any light on anything for me.

Since 2006 i have work for one employer and done 2 jobs. One was contracted and the other casual hours. In 2009 my casual job became a contracted job so i now have 2 jobs one 37 hrs one 5hrs. I have 2 contracts but one tax code.

Having looked at past post ppl seem to have 2 codes, but as my wages all come through one company is it right that i should have just the one code.

any help wud be great plz x

molerat

How many payslips do you get ? If one stating Job A (37hrs) £xxx and Job B (5hrs) £xxx then one tax code is correct, if 2 seperate payslips with the same taxcode on each then that is possibly wrong.

Robo1507

ya i only get one payslip. But its the small things like the contracts started at different times in the year.

Ive used the tax checked on here in it says i have over or underpaid. So i check out HMRC website n that one say nope.

ER why is so time consuming to work out.

jem16

Robo1507 wrote: »

ya i only get one payslip.

You only need one tax code then.

But its the small things like the contracts started at different times in the year.

That doesn't matter. Your tax code simply gives you the personal tax free allowance for that year. It doesn't matter whether you have one income or 4 incomes you still only have one tax free allowoance.

Ive used the tax checked on here in it says i have over or underpaid. So i check out HMRC website n that one say nope.

What is your tax code?

rbcclouis

I recently had my tax code split between my two jobs.
I am on a wage for both jobs, so every month my wages are different depending on overtime ect.
Last month I ended up paying more in tax on my first job than I actually earned... which is the main reason for my confusion.
My tax code for my first job is 300L and for my second job is BR. If I have split my tax code between the two, should my tax codes still be different?

I also contacted the tax credit people as I assumed I could probably get some help with my lack of money even though I'm actually working my !!! off, to discover I'm not eligible as I'm not yet 25 and I'm not in possession
of a child!!

Last month my total earnings before tax came up to around about £800.00 but I only came out with around £420.00!!

Surely this cannot be right, it feels very much like theft.
Any advice would be greatly appreciated

jem16

rbcclouis wrote: »

My tax code for my first job is 300L and for my second job is BR. If I have split my tax code between the two, should my tax codes still be different?

If you have split your tax code, then one job would be 300L and the other job 474L as together that makes 747L which is the normal tax code.

You should not have BR as the other tax code.

What is the reason for splitting the tax code? Do you earn less than £7475 on one job?

chrisbur

Looks as if one of your tax codes from the split has not been applied yet but cannot really tell what is happening from the details given. To see what is going on you need to give details of each month's wages for each job. Gross pay, tax and NI paid, student loan if aplies, tax code and basis.