"Second" Job Tax??

Nonshy

I am employed by company A, work at company B's office. Working for two companies who have a joint interest and relationship.

Company B pay half my wages to company A.

Company A pay my wages in "full" to me.

Company B are now paying me a monthly bonus of £500 on top of my salary.

£500 is paid and £100 deducted in tax, so net £400 received into my bank each month along with my original salary (which has tax, ni, pension and student loan deductions)

Do i need to notify anyone else of this additional payment? should i be paying more tax or ni?

Thanks in advance

xylophone

In your shoes I would be clarifying the tax position with HMRC.

Nonshy

they don't make it easy to contact them by email!

CLAPTON

is compnay B paying you directly; do they give you an additional payslip?

getmore4less

There may be an issue with NI, this would be an easy way to reduce liability make a job look like 2 jobs with one below the threhold for NI

Lucyadams184

I would speak to the tax office directly, I'm sure that they can give you advice.

Nonshy

CLAPTON - they pay me directly and give me a pay slip... they deduct tax: basic rate (20%) but no further NI or Student Loan contributions

Nonshy

My tax code is 0T/1 if that helps?

CLAPTON

for genuine second job then you would pay 20% tax i.e. 100 and you would have no NI or student loan deducted.

however I'm not really sure whether you are really doing a second job in a true sense. I am afraid it's outside my range of competence.

Nonshy

CLAPTON - many thanks for your help. i am not sure either of the classification of a second job. Same industry but it is a different role/job within that industry!