📨 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!

Please can someone help me work my tax out

Options
Hi all, I am due to change jobs and go to working two jobs, and i am confused as to whether I will pay tax on my second job. Please can someone help? My tax code is 1265L. My new jobs and salaries are below. 

Main job - 18 hours per week - hourly rate = £13.57
Second job - 12 hours per week - hourly rate = £11.44 but will be going up to the new national minimum wage in April

Thankyou :) 

Comments

  • Bookworm105
    Bookworm105 Posts: 2,016 Forumite
    1,000 Posts First Anniversary Name Dropper
    edited 24 January at 7:39PM
    1265 tax code = £12,650 of tax free income per year 
    so yes, you will pay tax on some of the second job depending on the total number of weeks you actually get paid for in the year 

    18 x 13.57 x 52 plus 12 x 11.44 x 52 = potential total income of approx 19,840 per year, so obviously most of job 2's income will be subject to tax
  • molerat
    molerat Posts: 34,634 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    edited 24 January at 7:54PM
    If job 1 is 52 weeks a year that uses all your tax allowance, 18 x £13.57 x 52 = £12701 so job 2 will be taxed at 20% on everything you earn
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
  • 351.2K Banking & Borrowing
  • 253.2K Reduce Debt & Boost Income
  • 453.7K Spending & Discounts
  • 244.2K Work, Benefits & Business
  • 599.2K Mortgages, Homes & Bills
  • 177K Life & Family
  • 257.6K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K 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.