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Second Income

Sioonoo
Posts: 9 Forumite
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
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
0
Comments
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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 Wales0
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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/£0600
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