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Having two jobs - Help understanding TAX
darrend2812
Posts: 48 Forumite
Hi all,
With HMRC phone lines closed to assist with the Job Retention Scheme I am hoping someone here can help me understand tax when having two jobs.
I will be on Furlough leave for 1 month and been offered a job in a supermarket temporarily (zero hour contract).
My question is how much TAX will i be paying having two jobs? I am a complete amateur at understanding this so forgive me.
Current salary is just under £31,000 per year. Would I be placed on Emergency Tax ?
Thanks all
With HMRC phone lines closed to assist with the Job Retention Scheme I am hoping someone here can help me understand tax when having two jobs.
I will be on Furlough leave for 1 month and been offered a job in a supermarket temporarily (zero hour contract).
My question is how much TAX will i be paying having two jobs? I am a complete amateur at understanding this so forgive me.
Current salary is just under £31,000 per year. Would I be placed on Emergency Tax ?
Thanks all
0
Comments
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Not Emergency Tax as that would give you your tax-free allowance. You would complete a new starter form for the supermarket job and they would deduct a straight 20% off your pay as your tax-free allowance would be used up with your furloughed pay.
0 -
As General_Grant says "emergency tax" would be wrong and you would end up owing HMRC.
You need to make sure you are on a BR (basic rate) tax code with your new job. You do this by ticking/signing statement C on the new starter form your new employer should provide you with.0 -
Tax is actually simple - it's NI that gets complicated!
Tax = Your gross annual earnings - £12500 = X
X * 0.2 - it's unlikely you'd move up to higher rate tax, so that should keep it relatively simple.
In your case as has been said you will simply pay 20% on the whole amount you get at the supermarket.0
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