a second job or over time?

debrag

I currently work 35 hours a week but need more money so I take on as much over time as possible.

Is it better to carry on with over time or get a second job? I work as a care assistant in a residential home so I work shifts - 7am to 2pm or 2pm to 9pm.

My pay varies as some months I'm paid 4 weeks some months 5 weeks.

I could do home care again I suppose but I don't want to be out all hours and see little money for it

getmore4less

A second job can be better if you are under the NI threshold.

Makes no difference on tax.

McKneff

think you would be better doing overtime really, if you work shifts it would be difficult fitting in another job with the differing hours.

Overtime or 2nd job wouldnt make any difference financially, you would still pay 20% tax on the whole amount.

Indie_Kid

Would you have issues fitting the second job around your current one?

getmore4less

McKneff wrote: »

think you would be better doing overtime really, if you work shifts it would be difficult fitting in another job with the differing hours.

Overtime or 2nd job wouldnt make any difference financially, you would still pay 20% tax on the whole amount.

If the current income is below £844 pw then the overtime attracts 11% NI the second job does not attract NI till over £110pw.

Savvy_Sue

if you can get a second job at similar rates, I'd say that would be best because you'd get paid holiday at both, whereas the overtime doesn't attract extra holiday pay, BUT if your shift pattern varies it could get difficult. also does your contract say anything about a 2nd job?

Russe11

If you already claim working tax credits, most likely the increased earnings will just erode your tax credit entitlement next year.

If you don't apply for them.