If your on a wage of say 16000 (permanent, working 5 days a week, on PAYE where your employer sorts out tax, etc) and then you do a one off job that pays about 1500 in your spare time, what do you do about tax? Is it a second job? What percentage do you have to give in tax?
2007-01-24 04:37:00 · 5 answers · asked by jarf 2 in Business & Finance ➔ Taxes ➔ United Kingdom
You need to complete form P46. This will enable your employer to take the correct amount of tax from you.
2007-01-24 11:33:19 · answer #1 · answered by skip 6 · 0⤊ 0⤋
Your first job will be using your free-pay tax allowances. Therefore any second job that you undertake will require you to complete a P46, as you would not be able to give them a P45 because you have not left your first job.
Your second job should put you on a BR tax code unless otherwise stated by Inland Revenue when they receive your P46.
2007-01-25 20:08:58 · answer #2 · answered by Mrs W 2 · 0⤊ 0⤋
you will have used your tax allowance on first job so second one will pay tax on it all just as if you got all the money from one job if its paye on both then don't worry if not talk to ken dodd lol
2007-01-24 04:56:26 · answer #3 · answered by mikey_mossom 2 · 0⤊ 0⤋
yes you will have to report this as taxable income. if its just cash then keep it to yourself but if you have been cut a check and issued income it is necessary reportable income. Just add this to your yr ends taxes. NO sweat. its extra income. ENJOY...
2007-01-24 04:43:27 · answer #4 · answered by dat251flava 2 · 0⤊ 0⤋
If its a one off don't declare it.I know of plenty tax office employees doing 2nd jobs and not declaring it.If its good enough for them?
2007-01-24 04:44:38 · answer #5 · answered by Anonymous · 0⤊ 2⤋