2 jobs... tax?

hrj2922

I’m a mature student at university and need to work part time to afford to live, student loan doesn’t cover me. I’ve been offered a ‘relief’ (bank) support worker job. The company have multiple locations so they’ve assured me that there will be plenty of hours. However I’m not 100% convinced and worried it won’t be enough. I’ve got an interview with an agency, where I’d be covering shifts at various companies but again no guaranteed hours. If I took both jobs, so had 2 essentially ‘bank’ jobs - no contracted hours, would I be taxed more than normal?

I’m planning to work around 20 hours a week in term time, possibly more or less some weeks if I have more/less uni work on. Then in holidays I will be aiming for more like full time.

Just don’t want to be without hours, but also don’t wanna be paying insane amounts of tax if I take two jobs?

chrisbur

hrj2922 wrote: »

I’m a mature student at university and need to work part time to afford to live, student loan doesn’t cover me. I’ve been offered a ‘relief’ (bank) support worker job. The company have multiple locations so they’ve assured me that there will be plenty of hours. However I’m not 100% convinced and worried it won’t be enough. I’ve got an interview with an agency, where I’d be covering shifts at various companies but again no guaranteed hours. If I took both jobs, so had 2 essentially ‘bank’ jobs - no contracted hours, would I be taxed more than normal?

I’m planning to work around 20 hours a week in term time, possibly more or less some weeks if I have more/less uni work on. Then in holidays I will be aiming for more like full time.

Just don’t want to be without hours, but also don’t wanna be paying insane amounts of tax if I take two jobs?

The number of jobs you have will not affect your tax liability. The tax you are liable to pay is decided by your total taxable income and will not alter whether it comes from one job or multiple jobs.

If you have a good idea of the split of earnings in your jobs you will be able to split your tax allowance between jobs; but with variable earnings it is possible that you might over-pay on one job. If this does happen you will eventually get any over-payment back.

Comms69

hrj2922 wrote: »

I’m a mature student at university and need to work part time to afford to live, student loan doesn’t cover me. I’ve been offered a ‘relief’ (bank) support worker job. The company have multiple locations so they’ve assured me that there will be plenty of hours. However I’m not 100% convinced and worried it won’t be enough. I’ve got an interview with an agency, where I’d be covering shifts at various companies but again no guaranteed hours. If I took both jobs, so had 2 essentially ‘bank’ jobs - no contracted hours, would I be taxed more than normal? - Not necessarily. Having 1 job, or 10, the tax you owe would be the same - it's based on annual income. BUT you could end up being taxed more temporarily. The overpaid balance would typically be repaid with-in a few pay periods.

I’m planning to work around 20 hours a week in term time, possibly more or less some weeks if I have more/less uni work on. Then in holidays I will be aiming for more like full time.

Just don’t want to be without hours, but also don’t wanna be paying insane amounts of tax if I take two jobs?

I suspect that you wont actually breach the tax free allowance. Depending on which offers more consistent work you can split your tax allowance between the two. Giving a bigger share to the more substantial role.

dawyldthing

Tax allowance is nearly £12k. It’s unlikely you’ll hit it if you’ve not worked this financial year. Even if you do pay tax (so if you’ve not got a p45 but had a job already this tax year) you’ll be on emergency 20% tax but can claim it back and it will get sorted when HMRC know and sort it.

Even if you do overpay it gets refunded July time ish, can take longer but they will sort it quicker if you ring them

Annisele

It's possible in some cases to end up being taxed less through having two jobs than you would if you earned the same amount in just one job.
Income tax will all work out the same either way (as others have said, you might end up being taxed too much up front, but it'll come out in the wash).
National Insurance might work out slightly lower if your earnings are split across two jobs.

CakeCrusader

There are tax implications if there's a second job, sorry. The PAYE system can't cope if there's more than one job, so it taxes any second job at 20% ( if you don't go over your annual tax allowance in both of the jobs combined you can claim it back). https://www.moneyadviceservice.org.uk/en/articles/pay-and-tax-when-working-in-more-than-one-job


You also need to check the Working Time Directive, as you're not supposed to work more than 48 hours a week in both jobs combined unless you opt out.

Comms69

CakeCrusader wrote: »

There are tax implications if there's a second job, sorry. The PAYE system can't cope if there's more than one job, so it taxes any second job at 20% ( if you don't go over your annual tax allowance in both of the jobs combined you can claim it back). https://www.moneyadviceservice.org.uk/en/articles/pay-and-tax-when-working-in-more-than-one-job


You also need to check the Working Time Directive, as you're not supposed to work more than 48 hours a week in both jobs combined unless you opt out.

HMRC are happy to split the allowance. Literally I’ve just had that situation

molerat

CakeCrusader wrote: »

There are tax implications if there's a second job, sorry. The PAYE system can't cope if there's more than one job, so it taxes any second job at 20% ( if you don't go over your annual tax allowance in both of the jobs combined you can claim it back). https://www.moneyadviceservice.org.uk/en/articles/pay-and-tax-when-working-in-more-than-one-job


You also need to check the Working Time Directive, as you're not supposed to work more than 48 hours a week in both jobs combined unless you opt out.

The tax system easily copes with 2 jobs by splitting the code, put the 2 annual incomes into your personal tax account and it will automatically split the code if necessary.