Working PT as weel as FT...

Baby_A

Hi,

Not sure if this is the right board, I currently work FT (35 hours a week), and have some debt which I would just like to pay off and get free of. I am considering finding a job at the local supermarket working a few evenings a week, but not sure what the tax implications are. Would I get taxed huge amounts, therefore not making it worth my while working the extra hours?

Im not sure how the tax bands work, so would appreciate some guidance. Also not sure if it would affect the situation with regards to Child Tax Credit (I have a 2 year old).

Many Thanks in advance.

poppy_f1

as far as im aware you will pay 23% tax on the p/t job earnings (unless it takes you over the 40% threshold) i think you will also pay extra NI contributions - but i could be wrong with this

have no idea how it would affect the tax credits

nielingren

your Child Tax Credit might go down ... some people working in pubs or do jobs for people they know so they get cash in hand

Hoddie_2

nielingren wrote:

your Child Tax Credit might go down ... some people working in pubs or do jobs for people they know so they get cash in hand

Such people are stupid. They face severe financial penalties and jail if found out. They also face not receiving their full entitlement to benefits in future years, whether or not their previous cash-in-hand employment is ever found.

The employers too are facing massive penalties.

philip

I am assuming you are on code 503L and you are currently paying tax.
You will pay tax at 22% on your PT earnings ( Tax code BR), if your new employer does his job properly.You will pay NI on the PT earnings, ONLY if these earnings exceed 98 pounds per week.
You should notify tax credits about extra earnings, I don't think it will impact, but you should check to make sure.