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super_red_99 | Current my job with a annual of £24,000 i took on a 2nd job any ideas what percentage it will be for tax ? |
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suerye
 |
Other answerers are making wild guesses. Your tax rate on the second job will be 22%, plus NIC at 11%. |
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karen
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I'm with Fengirl and Dr Green
Tax will be due at 22% on the whole of your earnings,
National insurance at 11% (but you will be able to earn £100 pw in this job before this applies). Dr green's £70 is a little out of date!
If you want to check the current rates check out the Inland Revenue webiste.
If your new job is employed, make sure you fill out a P46 and hand it to your boss, TICK BOX C.
If your new job is self employed, make sure you inform the Inland Revenue about your new self employemnt within 3 months or you will get a compulsary fine.
http://www.hmrc.gov.uk/rates/index.htm |
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'Dr Greene'
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I'm with fengirl on this one but on the NI you do get an allowance per employment so the 11 percent doesnt apply to the first approx 70 pounds per week. |
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beverley.newman1@btinternet.com
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20% of all your pay for the 2nd job.Terrible is'nt it? Does'nt make you want to work does it? When I think of all the wasters out there not doing any work,it makes me very angry. |
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babyonlyne
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well some are along the right track. if your second job takes your total annual to £34600 then its 22% and nic @11% but once your earnings start passing £34600 then you are charged at tax 40%. there are a lot of factors to consider when caculating NICs and PAYE, it looks simple but its not so straight forward. If you're on a pension scheme its different percentages for NIC. things such as pre tax deductions eg charity contributions will affect the amount of tax you pay |
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David T
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Fengirl is spot on as usual.
The 40% tax rate does not kick in until your combined income exceeds for the tax year 2007-2008 £34600, so long as your second job does not exceed £10,600 per anum the tax rate will be 22% and NIC 11%,
If your second job takes you over £34600 then the 40% tax rate comes into play on the salary over £10600 in the second job. |
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Dellboy from UK
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23% tax |
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davetumalty
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Hi your first job will remain at the same tax rate you new job will be 33% |
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Blue Kitten
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Your first job will take the standard tax (about 24% for IT and NI).
Your second job will be about 33%, as your tax allowance will have been used by your first job.
You should be able to contact HM Revenue & Customs direct who will be able to advise you - their contact numbers are available online.
(PS - If I was earning £24k, I wouldn't need a second job - what do you do with all that money?!) |
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dolly dewdrop
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40% |
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