Two Jobs - Tax/NI/Monthly Pay?

acissej_2

Hi everyone,

I've been trying to work this out at home but would warmly welcome some help and advice on calculating the take home pay of a second job - and how it would affect my first, and main job.

My current (and main job) job brings in £14,000 per annum (£12,801 after tax and NI paid through PAYE).

The second job on offer is casual work at £25 per hour, 14 hours a week, for a minimum of 23 weeks with the hope to extend to end of the financial year.

I've calculated what the impacts of tax and NI are on on both jobs individually but I'm finding it difficult to find out how much money in total, after tax and NI, I'd bring home each month (from both jobs) and whether the second income would trigger my student loan repayments?

If there are any maths tax wizards out there who could point me in the right direction or help with the sums, it would be greatly appreciated.

Many thanks!

Dazed_and_confused

I've calculated what the impacts of tax and NI are on on both jobs individually but I'm finding it difficult to find out how much money in total, after tax and NI, I'd bring home each month (from both jobs)

Isn't the answer to this the sum of your two individual calculations???

00ec25

the standard personal allowance for 17/18 is £11,500 and converts into tax code 1150L

if you have a job which pays more than that amount then there is no point in splitting the allowance between jobs, just have the full code applied to the "main" job

main job
gross 14,000 - allowance 11,500 = 2,500 taxable pay
2,500 x 20% income tax = £500
national insurance does not work on a cumulative basis, it is calculated, in isolation, each time you are paid. Let us assume you are paid monthly, so: 14,000/12 = 1,166.66 per month gross

national insurance gets a different allowance, it is £157 tax per week. That is (157x52)/12 = 680.33 when paid monthly
1,166.66 - 680.33 = 486.33 NI'able
NI payable 486.33 x 12% = 58.36
(for the sake of this examle we will convert that to an annual figure: 58.36x12= 700.32

net take home pay: 14,000 - 500 - 700.32 = 12,799.68 (the reason that is slightly different to yours is because of the way the income tax calculation works when adding each month up to give the annual total cumulative figure)

second job
as this is not full time, let us stick with it purely as a weekly based calculation using a gross of 25x14 = 350 per week
income tax: all your personal allowance is already fully used so your income tax deducted will be 350 x 20% = 70
NI: 350 - 157 = 193 x 12% = 23.16

net take home pay per paid week: 350 - 70 - 23.16 = 256.84 per week

acissej_2

Thank you so much 00ec25! So combined weekly take home is (£246.15 for main job and £256.84 for second job) = £502.99?

00ec25

acissej wrote: »

Thank you so much 00ec25! So combined weekly take home is (£246.15 for main job and £256.84 for second job) = £502.99?

there will be some rounding differences, but yes somewhere of £500 per week combined take home

also bear in mind that you may be auto enrolled to a workplace pension for the main job, in which case you tax paid will be lower and your net pay will be lower.

the "advantage" of having 2 jobs compared to one is that NI is in isolation on each job, so you get £157 per week free of NI on each. for income tax that is not the case. So, make sure they use the correct tax code for the second job, they should use code BR which applies 20% basic rate income tax to all money paid (ie no tax free allowance given).