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Second Income

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Hi All

Just wanted to ask if someone could help me with my query.

I currently work full time for a salary of £20950

I am looking at getting a second job which would be 15 hours per week for either £8.15 or £7.08 depending on which role I get based on the above how much tax would I pay for my second income and what would my take home pay on my second income be? I'm just trying to work out if it would be worth it or not.

Thanks

Sean

Comments

  • lincroft1710
    lincroft1710 Posts: 18,876 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    You pay tax on income above £10,600 at a rate of 20p in the pound, so in the example you give, you will pay 20p tax for every £1 you earn from the second job.
    If you are querying your Council Tax band would you please state whether you are in England, Scotland or Wales
  • joeyjimbles
    joeyjimbles Posts: 2,247 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    There will also be NI to pay depending on what rate is applicable to you.
    LD 12.25 £1600.00/£0700.00             Fn £274.00  LTFn £525  LLTFn £300     
    Renewal 25 £500.00/£500.00            InsH 12.25 £600/£600.00   InsP 03.26 £150/£150.00
    NPt 12.25 £150.00/£051.50               Ins/TC 02.26 £550/£470.00
    YX25 £1500/£0750                             FD £3600/£0600
    PX25 £1500/£0625                             P6m £1200/£0800  PEa £100/£060          
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