Second job -Tax?

Tanya37

Hiya!

I have a primary job with salary of £38,000 per year.
I am about to take a part time job with salary of about £7,000per year.

Is that correct that with the second job I will be paying Basic rate of 20%.

Also, I would be grateful if you could clarify what are the NI contributions for the 2 job are likely to be?

Thank you!!!!!!

jem16

Tanya37 wrote: »

Hiya!

I have a primary job with salary of £38,000 per year.
I am about to take a part time job with salary of about £7,000per year.

Is that correct that with the second job I will be paying Basic rate of 20%.

As your total income will be £45,000 you will be into higher rate tax for part of your 2nd job. To pay 20% on the whole lot would see you paying too little tax.

At the moment higher rate tax starts at £36,000 plus personal allowance of £5435 so total of £41,435. From September that will be £34,800 plus £6035 so total of £40,835.

HMRC may tax all of your 2nd job at 40% and apply a different tax code to your main job to offset.

Also, I would be grateful if you could clarify what are the NI contributions for the 2 job are likely to be?

Each job is taken separately as far as NI is concerned. Rates here;
http://www.hmrc.gov.uk/rates/nic.htm

minimadtrix

Wow, 38K pa and still feel the need to have a second job??

Tanya37

Thank you!