How much will i get taxed on my second job?

MhariJ

Hi there

I was hoping someone may be able to give me advice on paying tax. Currently I earn £16'480 and I am looking to take on a 2nd job at approx £3'600. My current tax code for my main job is the 944L one, does anyone know what i would be looking at to pay on the 2nd job. I have heard that it could be 40% on my second job which obviously wouldn't make it worthwhile.

Thank you in advance for any advice given.

notanewuser

MhariJ wrote: »

Hi there

I was hoping someone may be able to give me advice on paying tax. Currently I earn £16'480 and I am looking to take on a 2nd job at approx £3'600. My current tax code for my main job is the 944L one, does anyone know what i would be looking at to pay on the 2nd job. I have heard that it could be 40% on my second job which obviously wouldn't make it worthwhile.

Thank you in advance for any advice given.

It will be 20% tax and 11% NI.

(Even if it were 40% it would still be "worth it". Obviously. )

Derwent

You will pay 20% tax on the second job on the gross figure as you've used all of your personal allowance in your main job. So you'd pay £720 a year in tax on the second job based on earnings of £3,600.

19lottie82

notanewuser wrote: »

It will be 20% tax and 11% NI.

(Even if it were 40% it would still be "worth it". Obviously. )

wrong on the NI. If you earn under £110 a week, in any job, you don't pay it.

So, OP, 20% tax only.

MhariJ

Thanks folks!!!

notanewuser

19lottie82 wrote: »

wrong on the NI. If you earn under £110 a week, in any job, you don't pay it.

So, OP, 20% tax only.

Oops - misread £3,600 for £8,600.

chrisbur

19lottie82 wrote: »

wrong on the NI. If you earn under £110 a week, in any job, you don't pay it.

So, OP, 20% tax only.

Earnings up to £149.00 a week have no NI deducted from the employee's wages. If it is a second job and that second job has no connection with the first job then this rule applies to the second job; if however the two jobs are connected for example two separate jobs but for the same employer then NI would be due as if the two wages were being paid as one wage, though there are circumstances when this does not happen.

19lottie82

chrisbur wrote: »

Earnings up to £149.00 a week have no NI deducted from the employee's wages. If it is a second job and that second job has no connection with the first job then this rule applies to the second job; if however the two jobs are connected for example two separate jobs but for the same employer then NI would be due as if the two wages were being paid as one wage, though there are circumstances when this does not happen.

I dont think the OP made any suggestion that the 2 jobs were connected?

chrisbur

19lottie82 wrote: »

I dont think the OP made any suggestion that the 2 jobs were connected?

Nor that they were not connected so just trying to cover all possibilities. The OP probably would not know that this could affect the NI that they pay.