take home pay with second job-working out?

keith1950

Hi, - as long as his 1st job is more than around £7500 per year then he will pay 11% NI and 22% Tax which equates to an overall percentage of 30.6% of all his earnings on his 2nd job.-keith1950:j

noh

keith1950 wrote: »

Hi, - as long as his 1st job is more than around £7500 per year then he will pay 11% NI and 22% Tax which equates to an overall percentage of 30.6% of all his earnings on his 2nd job.-keith1950:j

No
He wont pay NI on the first £100 a week of the income as stated previously.

Nigel

chrisbur

mrs_baggins wrote: »

My son works full time and he has an interview for a sat/sun job to get some extra income. I realise that all his wages will be taxed but dont know how much all the other deductions may be ie nat insurance etc. For arguments sake lets say the second job will be 5000 pa how can i work out his take home pay. He wants to see if will actually be worth doing a second job or not? thanks

Tax will be due on the total income from all jobs, if he is paying in the 22% band in his full time job and does not go into the 40% band then his second job will be taxed at 22% (If I remember right that will be 20% next year) If you can quote earnings for full time job I can be more precise.

National insurance is different and assuming that he has seperate employers for both jobs then he will pay NI on earnings over £100 per week in both jobs. If however the two jobs were for the same employer then this might be different and they could well be added together. The rates at which NI is paid can vary depending on the individuals circumstances but the majority of people pay 11% over the £100 per week. If earnigs go over £670 per week then NI falls to 1%.

mrs_baggins

Thanks so much to everyone who has responded. It all helps work out what he will get.

hereishappyhelen

Sorry if this as been covered but..

If you are self employed as your main job and pay tax etc. but need a second job for around 6 months of the year when business is slow, how do you get taxed then on your second job? What kind of % do you pay and do they work it out for you?

Thanks...

chrisbur

hereishappyhelen wrote: »

Sorry if this as been covered but..

If you are self employed as your main job and pay tax etc. but need a second job for around 6 months of the year when business is slow, how do you get taxed then on your second job? What kind of % do you pay and do they work it out for you?

Thanks...

The employment earnings will be added to your self employed profit and tax will be worked out on the total. The percentage you pay on the earnings will depend on what your self employed profit is. For example if you are into the 22% band and your earnings do not take you into the 40% band then you will pay 22%.
In practise you will have to sign a P46 declaring that you have other employment, option C, and you will be put on tax code BR. The tax office may change this if they feel it will not be a reasonably close estimate, but either way at the end of the year it will be calculated correctly and any adjustments made.
When you complete your self assesment form you may have to request extra pages to fill in for your non-self employed income.
Provided you send in your self assesment in time the calculation will be done for you.