How much tax do you pay with a second job?

Answer 1

As standard, you would pay tax at the basic rate of 22% (for which you receive a tax code of BR)

If you are liable to pay tax at the higher rate, i.e. where your income is circa £35000, then the code should be D0 where tax is taken at 40%.

You can however, choose to allocate part of your tax free allowance against your second job. Take the coming tax year for example, the tax free allowance is £5225. If you earn £4000 at your main job, you can allocate the difference of £1225 against your second job.

I would only recommend this when the earnings with your main job don't quite reach the tax free allowance. If you are well above that amount ,don't bother. The standard code will just be BR

Answer 2

No matter how many jobs you have, you only have one Personal Allowance (Basic at 2007 is £5,225pa in the UK). If all your Personal Allowance is being set against your first job, then you will be taxed at 22% on your earnings from the second job, providing it does not take your total income above £33,300pa - anything above that figure will be taxed at 40%. If, however, your earnings from the first job are low and do not take-up all your Allowance, then you can choose to divide your allowance between the two jobs. You must, however, inform your local HMRC that you have a second job. The link below will give you info regarding Tax Codes.

Answer 3

Your P45 can only reside with one employer - It has your exact tax details. In the absence of a P45 your employer should ask you to complete a P46. Statement C would apply to you "this is my a secondary occupation" which will mean you will be taxed @ 22% - soon to be 20% on this particular wage packet.

However, this may actually result in you being either under or over taxed - if you are doing two "small" jobs which would not take you over your personal allowance c£5,200 then you would be overtaxed. If your second wage takes your total earnings to over c£35,000 then you should be paying some @ 40%.

Tax offices are generally v.slow to catch up on you either way, but it's worth speaking to your local one as they can send a special instruction to your employer to tell them to tax you at exactly the right rate

Answer 4

. It depends on how much you earn in your first job. You are allowed a certain amount of tax free allowances and diffrent rates of tax dependant on the amount od income you have. If your firsr job is parttime and less than your allowances you may be able to transfer the balance of allowances to the 2nd job. Then any tax due would be at the lower rates. If you are in full employment and paying tax you would pay tax at the standard rate on evertything you earn currently 22% or 40% if you are a higher earner taking you over the tthreshhold for that rate of tax.

Answer 5

This Site Might Help You.

RE:
How much tax do you pay with a second job?

Answer 6

Assuming you earn at least £5200 inyour first job then you will pay 22% on your second job.

Unless this takes you aver the next threshold for higher rate tax then you will pay 40%

Answer 7

Ask your second employer for an itemised pay slip. They are obliged by law to provide one by the Employment Rights Act. Your second employer is also legally obliged to deduct tax and NI from your wages. It is illegal to be paid cash in hand. If your second employer is not cooperative, speak to your local tax office.

Answer 8

It doesn't matter how many jobs you have - just the total income. So you'd pay the same taxes with one $50k job as you would with two $25ks.

Answer 9

Basic rate at present 22p in the pound but soon to be reduced to 20p in the pound

Answer 10

40% i think