Having 3 jobs..worth it?

gabyjane

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.

fengirl_2

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.

gabyjane

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

£36,000 of taxable income.

gabyjane

Im assuming that is after my tax is taken off in which case i wont! thanks again x

fengirl_2

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).

jem16

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

Ok thanks! no where near that so i wont worry!