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2 jobs- taxation help
wrightk
Posts: 975 Forumite
Apologies if this has been answered before or is relatively straightforward....
Am currently on JSA and have been for about 8 weeks after i lost my job due to company going out of business.
I have secured employment working on a 2 day on 2 day off rota basis working on average 42 hours per week, just waiting for a start date as crb's and checks have all come back clean, however i am still in contact with a recruitment agency and they can offer me work on my days off around 20 hours per week (maximum as i dont want to overdo it).
I just wondered what the taxation would be like on that, my first job will bring in just over 1,000 a month, the second 500 per month minimum.
Is it worth it, or will i just end up with the second job paying mainly tax?
My tax code when i start will be 547L
Many thanks
Am currently on JSA and have been for about 8 weeks after i lost my job due to company going out of business.
I have secured employment working on a 2 day on 2 day off rota basis working on average 42 hours per week, just waiting for a start date as crb's and checks have all come back clean, however i am still in contact with a recruitment agency and they can offer me work on my days off around 20 hours per week (maximum as i dont want to overdo it).
I just wondered what the taxation would be like on that, my first job will bring in just over 1,000 a month, the second 500 per month minimum.
Is it worth it, or will i just end up with the second job paying mainly tax?
My tax code when i start will be 547L
Many thanks
Even a stopped clock tells the right time twice a day, and for once I'm inclined to believe Withnail is right. We are indeed drifting into the arena of the unwell.
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Comments
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anyone?
Even a stopped clock tells the right time twice a day, and for once I'm inclined to believe Withnail is right. We are indeed drifting into the arena of the unwell.0 -
In a normal year, your first job can take account of all your tax free allowance. So your second job would have no tax-free element.
You would pay 20% tax on your second job's pay - but you would be paying the same if you were earning that in your primary job too.0 -
So i would be on BR tax code on my second job and taxed at that rate for my earnings?Even a stopped clock tells the right time twice a day, and for once I'm inclined to believe Withnail is right. We are indeed drifting into the arena of the unwell.0
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thanks a lotEven a stopped clock tells the right time twice a day, and for once I'm inclined to believe Withnail is right. We are indeed drifting into the arena of the unwell.0
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