Second job take me into higher tax rate?

Caddyman89

Hi!

Been trawling the net all night and come up with nothing but confusion. I hope someone can help.

I've been offered a second job which will see me earning up to about 43k with both jobs.

So my main job I earned last year 38k doing 50-55hrs, I have tax code 1012L. And I've just got a 2% rise this month.
I've been offered another 9-12 hours a week for between 3.4k and 5k.

I think the higher rate is £41,865 so this could take me into the 40% tax.

Would it be calculated like this or would I get BR code, D0, or adjustment to 20% band.

I just don't want to end up working more hours for less money and be better off staying in my main job. I'm quite happy working 60hr weeks but don't fancy giving up 40% of my earnings.

Many thanks, Marc.

anamenottaken

You don't pay any more tax by working in two jobs and earning £X in total than you would in working in one and earning the same amount (£X).

You can never be worse off than not earning, even on the bit where you pay 40% (and you pay 40% on the excess, not on the whole lot).

Glass_Half_Empty??

Work it out for yourself
http://www.listentotaxman.com