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Having 3 jobs..worth it?

gabyjane
gabyjane Posts: 3,541 Forumite
in Cutting tax
I currently have 2 jobs, 1 employed and one self employed..at the end of the tax year i do my online assesment and input each job..i get taxed 22% on the employed job. I may have the chacce of getting another part time job which will be employed by another co as well as the 2 i have and was wondering if it is worth it and how i go about inputting it into my tax form..do i just add the 2 employed jobs together? would it make the tax so high it wouldnt be worth doing one of them..
Thankyou.

Comments

  • fengirl_2
    fengirl_2 Posts: 4,530 Forumite
    The tax you will pay on your 3rd job will depend on the level of your incoem from your other two jobs. If the total takes you into the 40% bracket, then you will pay 40%, otherwise you will pay 20% (from 6/4/08).
    You will complete two employment pages - one for each job - on your self assessment.
    £705,000 raised by client groups in the past 18 mths :beer:
  • gabyjane
    gabyjane Posts: 3,541 Forumite
    Thankyou Fengirl..what is the amount that i have to be under for the 2 jobs to take me into that 40%? thankyou.
  • fengirl_2
    fengirl_2 Posts: 4,530 Forumite
    £36,000 of taxable income.
    £705,000 raised by client groups in the past 18 mths :beer:
  • gabyjane
    gabyjane Posts: 3,541 Forumite
    Im assuming that is after my tax is taken off in which case i wont! thanks again x
  • fengirl_2
    fengirl_2 Posts: 4,530 Forumite
    No, its not after your tax is taken off!
    Its £36000 on taxable income - that is, your total gross income (before tax and NIC), less your tax free allowance (probably 5225).
    £705,000 raised by client groups in the past 18 mths :beer:
  • jem16
    jem16 Posts: 19,823 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    fengirl wrote: »
    No, its not after your tax is taken off!
    Its £36000 on taxable income - that is, your total gross income (before tax and NIC), less your tax free allowance (probably 5225).

    Plus any interest from savings and any dividend payments.
  • gabyjane
    gabyjane Posts: 3,541 Forumite
    Ok thanks! no where near that so i wont worry!
This discussion has been closed.
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