We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Having two jobs - Help understanding TAX

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



Comments

  • General_Grant
    General_Grant Posts: 5,333 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    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.
  • 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.
  • Comms69
    Comms69 Posts: 14,229 Forumite
    10,000 Posts Third Anniversary Name Dropper
    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. 
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 352.1K Banking & Borrowing
  • 253.6K Reduce Debt & Boost Income
  • 454.3K Spending & Discounts
  • 245.2K Work, Benefits & Business
  • 600.9K Mortgages, Homes & Bills
  • 177.5K Life & Family
  • 259K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.