Tax on two jobs???

laurajd28

Hi,

I currently work full-time earning £16k per annum but have seen a job that I really really want which is only 20hrs per week.
This means that I'd have to get a second job so that I'd still be working full-time hours!

Anyway, I'm just trying to do some rough estimates on what my take-home pay would be with 2 jobs. (I've worked out the calculations on an online tax calculator). My current tax code is 647L.

Job 1:
20hrs per week @ £8.50 per hour
£8840 per annum, take-home pay = approx £668.65 per month

Job 2:
25hrs per week @ £6 per hour
£7800 per annum, take-home pay = approx £480 per month (£600 minus 20% tax)

Total take-home pay = approx £1148.65

Have I worked this out correctly? I just want to have an idea of what I could expect to earn by having 2 part-time jobs as opposed to 1 full-time job!!

Thanks!
Laura

Mr23

You will use 647L for your main job and then 0BR for the other (20% tax from the get go with no personal allowance).

http://listentotaxman.com is a great website to use for calculating.

[Deleted User]

laurajd28 wrote: »

Hi,




Job 2:
25hrs per week @ £6 per hour
£7800 per annum, take-home pay = approx £480 per month (£600 minus 20% tax)

Total take-home pay = approx £1148.65

That don't add up right? 25 x 6 x 52/ 12 = 650.00 per month less 20% =520.00


But previous poster is correct 647L (which becomes 747L in April) would be applied to First job and BR to 2nd

laurajd28

Mr23 wrote: »

You will use 647L for your main job and then 0BR for the other (20% tax from the get go with no personal allowance).

http://listentotaxman.com is a great website to use for calculating.

Fabulous, thank you very much for your help!!!

Mikeyorks

I'll take your gross figures on trust ... as my solar powered calculator is a bit rubbish once the sun goes down!

Total gross ............................. = £16640

Personal allowance = £ 6475

Taxable =£10165

Tax due @ 20% ........................=£ 2033

Net pay ................... =£14607 / 12 = £ 1217 per month

Bear in mind you haven't factored NI in? And that you're overall £200pa better off from April when the personal allowance rises to £7475

[Deleted User]

[QUOTE=Mikeyorks;40144114

Bear in mind you haven't factored NI in? And that you're overall £200pa better off from April when the personal allowance rises to £7475[/QUOTE]

But alas National Insurance is increasing...what they give you with one hand they take with the other as always!

Depending on your circumstances having 2 jobs can be advantageous in the fact you get 2 lots of NI free pay!