second job...will i lose anything more than the basic tax rate?

united4ever

So my main job is about 32k.

Took a second temp job to try to clear some debts. This job is 7 pound fifty an hour and 9 pound for sundays.

Did saturday and sunday this week and last so my income is maybe 125 over the weekend where i will be paying 20% tax on it i think.

Thats fine but pver xmas i will do some extra shifts which will take my earnings to about 500 over an eleven day period.

Do i have to worry about losing anything more than the 20% tax here?

Married with 2 kids, get child benefit, recently registered for family allowance so got a new tax code. My wife just works a couple of hours a week and earns just 200 a month.

I am happy to do this work if i only lose 20% of whatever i earn but dont want to lose any more. Anything to watch out for here?

Darksparkle

You'll pay NI on earnings over £155 per week.

LittleVoice

£32,000 - "regular employment earnings"
£10,600 - Personal Allowance
£21,400 - taxable earnings in regular employment


£31,785 - is the taxable earnings band subject to 20%
so
£10,385 - amount to be earned this year (to 5 April 2016) in part-time work before paying any tax at 40%


As your wife earns less than the Personal Allowance, I believe you should be able to claim the new Marriage Allowance. Is that what you meant by "Family Allowance".




£

united4ever

Yes that is what i meant by family allowance.

Ah, so just to get this right.....as long as i earn less than 10,385 pounds in the second iob I am still paying 20% tax? Thats right isnt it?

What is NI contribution if i earn over 155 a week. It will only be for 2 weeks that i go over this threshold mind.

Thanks again

agrinnall

Not sure how you come to £4 per hour. Tax reduces your standard rate to £6 and your enhanced rate to £7.20. NI will reduce it a little more on the occasions when you earn enough to pay it, but nowhere near enough to get down to £4.

You might end up overpaying tax on your festive season earnings but you'll get that overpayment back in the next few pay periods.

Darksparkle

united4ever wrote: »

Yes that is what i meant by family allowance.

Ah, so just to get this right.....as long as i earn less than 10,385 pounds in the second iob I am still paying 20% tax? Thats right isnt it?

What is NI contribution if i earn over 155 a week. It will only be for 2 weeks that i go over this threshold mind.

Thanks again

12% on anything over £155 per week.

A Google search would tell you most tax/ni rates.

https://www.gov.uk/national-insurance/how-much-you-pay

chrisbur

united4ever wrote: »

What is NI contribution if i earn over 155 a week. It will only be for 2 weeks that i go over this threshold mind.

Thanks again

Your NI deduction will be decided by your gross pay you get on your weekly payday. So any payday when your gross pay exceeds £155 you will be deducted NI of 12% on the part of your gross over £155. For example you earn £165 you pay £1.20 NI. This would not be refundable.

united4ever

chrisbur wrote: »

Your NI deduction will be decided by your gross pay you get on your weekly payday. So any payday when your gross pay exceeds £155 you will be deducted NI of 12% on the part of your gross over £155. For example you earn £165 you pay £1.20 NI. This would not be refundable.

Brilliant, that's good news. Thanks all:)