i have a stable job and thinking of getting a second job i am aware that it depends on your yearly total income,
which defines what tax bracket your placed into
so if you have number a chart of some sort
that will be perfect
2006-09-29 06:13:50 · 4 answers · asked by thomas t 1 in Business & Finance ➔ Taxes ➔ United Kingdom
The first £5035 is tax free
The next £2150 is taxed at 10%
The next £31150 is taxed at 22%
Anything above this is taxed at 40%
2006-09-29 07:06:52 · answer #1 · answered by CherryP 1 · 0⤊ 0⤋
A second job (in UK) will always be taxed as Basic rate which is 22%. National Insurance will also be due if the earnings are above the Lower Earnings Limit.
2006-09-30 02:58:26 · answer #2 · answered by monkeyface 7 · 0⤊ 0⤋
If you pay tax already then you'll already use your allowances so as long as you're earning less than £40,000 a year you will be taxed at 22% of your 2nd income. (plus extra N.I)
2006-09-29 06:19:24 · answer #3 · answered by waspy 3 · 0⤊ 0⤋
The taxman will be happy to advise you, Seriously.
2006-09-29 06:34:16 · answer #4 · answered by Earwigo 6 · 0⤊ 0⤋