Second Job

CaptainSkeptical

To get some figures, you might want to try the "Better Off With Two Jobs Calculator" or "Second Job Calculator" at https://www.uktaxcalculators.co.uk/tax-calculators/

bilko89

LITRG said:

Hello, If your job/circumstances have changed, you may want to update your tax code otherwise you risk an underpayment. You can find some good guidance on the tax issues around second jobs on our website, https://www.litrg.org.uk/working/employment/multiple-jobs

Thanks for this! My interview is on Friday so if I'm successful, I'll get onto sorting that thanks! Short term gain always means long term pain when it comes to tax so better to get ahead of it! 

penners324 said:

Sounds like some of the people giving you advise dont understand how the tax system works.

79% of £10k is better than 0% of £10k

Exactly....MSE always provides a level headed explanation like you have here

CaptainSkeptical said:

To get some figures, you might want to try the "Better Off With Two Jobs Calculator" or "Second Job Calculator" at https://www.uktaxcalculators.co.uk/tax-calculators/

Thanks! If my calcs are correct, it looks like I'll be £650 up per month which is a massive help in my short term goals of debt free and building up emergency funds. It's not a job I'm looking to keep on forever but maybe 2 years or so and it will be an amazing platform to rebuild my financial life off of

justwhat

I believe Tesco pension scheme has generous rules. Paying extra into a pension effects your tax liability.

 And then there is the 15% employee discount on shopping. lol

bilko89

justwhat said:

I believe Tesco pension scheme has generous rules. Paying extra into a pension effects your tax liability.

 And then there is the 15% employee discount on shopping. lol

Just benefits all round really!! I'm more than qualified to get the job, only worried about the hours I can offer to them...which I need to convince them I'll make up for in hard work

bilko89

justwhat said:

I believe Tesco pension scheme has generous rules. Paying extra into a pension effects your tax liability.

 And then there is the 15% employee discount on shopping. lol

Was thinking more about the pension scheme, from earlier I worked out I'd be approx £1700 over the threshold for 42% tax, if I put this (approx) £142 per month into pensions (between Tesco and my current Job), I'd save on the tax and also be saving for the future. Does that sound plausible?