Second job? Tax ?

Darlyd

Hey guys. I am in the process of perhaps changing jobs. BUT I have been thinking of staying on with who I am with but cutting hours as I love everyone I work with and my clients. And taking on the second job which pays more.

I don't currently pay tax with my present job as I have not reached the threshold.

But how much % would I have to pay in tax taking on a second job which I am sure I will end up earning over the yearly threshold for tax?

My Dad reckons I would have to pay 40% on second job? But like I said I don't pay any tax at the moment?

[Deleted User]

this year you can earn £7475 per annun before you pay any tax,after that you pay 20% upto £35,000 when the 40% rate kicks in

Darlyd

woodbine wrote: »

this year you can earn £7475 per annun before you pay any tax,after that you pay 20% upto £35,000 when the 40% rate kicks in

Thank you. :A

Wonder if I would earn that with both jobs? I doubt very much. Perhaps I could share the allowance? I won't be starting new job for a few weeks yet. Do I go through the employer and let them find me my tax code OR do I call HM myself? And when?

paddedjohn

its not about how many jobs you have but how much you earn over the threshold.

nannytone_2

if both jobs are PAYE, you will be taxed at surece. the tax office dont look at how many jos you have, they deduct tax on the amount you earn.
your tax code wont change because of you getting another job.

bertiebat

I think your second job will be taxed using a BR code. This means that all earnings in that job will be taxed at 20% and you will then need to claim it back after the end of the tax year by filling in a tax return.

Molly41

We have just sorted this out for my DD. She has two part-time jobs which just takes her just under the threshold. You do have to be careful as she has been paying Basic Rate tax on her second job and is due a rebate. Now her tax code is split between her two jobs.