Second Source of Income

[The Year Of The Fox]

Currently looking to get a part time job in addition to my fulltime one.

the second job may only earn myself perhaps 50-80 before tax a week. Not a lot but a big help to me.

How does the tax system work in this case？do you get taxed the same amount as your main job, or does one job get taxed at a higher rate, if so which？

Im wondering whether thered be any point in doing it if the wage before tax is only 50-80pw？

[Guest kristianity77]

Pretty sure the tax is the same unless you go over the threshold for the higher tier of tax (dont quote me, but i THINK its 40K a year)

However, it will SEEM like you are being taxed more on your second job because youll be taxed from the first pence you earn, whereas with your first job, you get a certain amount before you are taxed (based off your tax code)

[Webbo]

You'll be taxed at the same rate.

[Spiritwalker]

As stated above,your tax rate is the same(up to £34k) however all of your allowance will probably

be used up in your first job. As a rule of thumb tax + nat insurance is about 1/3 of your earnings

after your allowance.

[The Year Of The Fox]

Cheers all

[THEFATBASTARD]

will you be self employed though? when I setup my call boy "ever hard" service, I was allowed to make my equipment tax deductible..

[cambridgefox]

As stated above,your tax rate is the same(up to £34k) however all of your allowance will probably

be used up in your first job. As a rule of thumb tax + nat insurance is about 1/3 of your earnings

after your allowance.

yep,34k plus your 8k tax free allowance.

[Bayfox]

Get a cash in hand 2nd job. Delivery driver for local takeaway is a good place to start.

[MooseBreath]

If the wage before tax is £50 per week, you're probably better off cutting down spending a bit. Drive more economically, shop for better deals on your bills, cut down on expensive food purchases etc. Unless you're genuinely already spending as little as possible, of course, but most people could cut by £35 per week quite easily if they really wanted. Certainly much easier than getting another job.

[Itsthejoeker]

Does anyone know whether the tax threshold is the same for self employed workers?

[C-man]

For 2012-13, you get £8,105 tax free.

Your next £34,370 will be taxed at 20% and anything above and you'll be taxed at 40%, so unless your second job takes you past that you'll be taxed at the same level.

The rate bands are the same for tax regardless of whether you're employed or self-employed, but the National Insurance thresholds are different as you pay a different class of NIC.

[Maybes]

For 2012-13, you get £8,105 tax free.

Your next £34,370 will be taxed at 20% and anything above and you'll be taxed at 40%, so unless your second job takes you past that you'll be taxed at the same level.

The rate bands are the same for tax regardless of whether you're employed or self-employed, but the National Insurance thresholds are different as you pay a different class of NIC.

Bloody tax experts..

[Brenfox]

I need to know this too. In my main job I earn around £25k but I've had a part time job for three years earning about £1500 a year. I've always been on emergency tax with my part time job just in case it affected my main job. Does that mean I should be entitled to a rebate for those three years of overpaying on my part time job?

[Bettsj2]

Get a cash in hand 2nd job. Delivery driver for local takeaway is a good place to start.

THIS

I did this a couple of years ago. Got loads of free food at the end of each shift too!

[Rincewind]

I'd like to have a first source of income not counting JSA.