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Tax on 2nd job question
*onlyme*
Posts: 947 Forumite
I currently work full time and earn before tax £27734 per annum. I am looking for a part time evening job to increase my income however I am not sure how it works with tax.
Can someone shed some light at all please.
Can someone shed some light at all please.
0
Comments
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You will need to complete a P46 stating that it is not your main job. All income from this job will be taxed - you only get one allowance and its used on your fulltime job.
It is possible to split your tax free allowance between the two jobs but there is no advantage and a lot of headache.
You will pay no more tax than if the pay for your fulltime job increased by the amount you'd earn on the part time one.0 -
The tax on your second job will be 20% unless your wages combined reach the higher tax rate.0
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What you can benefit from by having two employers is that your NI contributions will be assessed in each job and therefore less than if all the income was from one employer.0
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