If i have two jobs, do I pay more tax??
Answer:
It can work out in you favour to have a second job instead of working overtime at your main one.
With having a second employment you get a further NI allowance, which mean that you can earn roughly £70 a week free of NI, and then only pay it on the excess. This wasn't worth much before but now that its 11% its worth knowing.
The tax you will pay 22% on where ever you work after your personal allowance is used. The difficulty is around where your Tax allowance is 'used' in your main job but come the year end you would claim a refund.
Logic would dictate yes
YES
yes - you pay a percentage of the money you make. higher pay - higher percentage = more tax money.
you are taxed on your total income
Yes, but you're paying the same percentage. With two jobs you would earn more money and would have to pay more tax because of this.
I think so yes - might be an idea to ring your local inland revenue office and have a chat with them. you need to inform them that you have a second job.
most likely yes. If you are unsure go to your local job centre and ask. Or you could ask one of the bosses at one of your jobs if you have any queries (most bosses are willing to help these days).
You don't pay a higher percentage out of your paycheck. In dollars, you're paying more, of course. And, if the combined income puts you in a higher tax bracket, then the percentage you pay would go up.
yep u pay tax at 22%
YES !
Yep, 25% tax on second jobs (depending on hours and tax limits of course)
if you earn more money, you pay more tax.
Yeah on your second job you will pay Basic Rate tax which is 22% of the Gross wage
yes. number of jobs has nothing to do with amount of tax. It is the income you get.
I do belive so.
definately - i once had 3 jobs and the tax was calculated across the board on all my earnings :-(
yes, you pay 22% tax on your second job
You pay approx 21% of your earnings. So if you earn £200 per week for the one job and £50 a week for the other then you will pay 21% on £250.
you will pay the normal tax rate on your main/frist job and a higher rate approx 22% on your second job
Yes, the percentage of total income.
fraid so - your second income would change your tax classification. you would be assigned a second tax code which would tell your second emplyer that all of your tax allowances have been included in the tax applied to your first source of income. Your allowances make up a certain amount of money you can earn 'tax-free' during the year. The current tax rates are:
on the first £2,020 - 10% (the starting rate)
on the next £29,380 - 22% (the basic rate)
on any income over £31,400 - 40% (the higher rate)
hi
its not how many jobs you have got its the amount of income that is taxed your tax code should read 503L which is the personal tax allowance for everybody child ,adult and is taxed accordingly the inland revenue will ask you which job is your main one and then the other job will be taxed at the basic rate [BR] code hope this info helps if not go along to your local tax enquiry center and they will try to explain it more in detail
bye
yes you pay about 25% on your second job but see your local tax man, they will let you know how to claim it back.
You don't pay more tax per se. If you earned the same total income in one job you would pay the same amount of income tax. Providing the paperwork was done correctly when you started your second job you will probably be paying tax at the basic rate (a BR tax code on your payslip will confirm this) with your tax allowances being used against the income from your other job.
However in certain, slightly unlikely, situations you can sometimes pay more National Insurance Contributions.
if you earn more pay more
Yes you are put on basic rate tax which means you pay 22% to start even if it's just £10 per week
There are standard rates of tax in the UK, and the number of jobs you have makes no difference. The income tax you pay is based on your total earnings. I.e. if you earn £20,000p.a. in one job, you will ultimately end up paying the same amount of tax if you earned £10,000p.a in one job and £10,000 p.a. in another.
NO.
You pay the relevant amount of tax applicable to total income from the 2 jobs.
You are taxed on income only, not by the number of jobs you have.
Remember, your first £5035 is tax free.
The answers post by the user, for information only, BAnswer.com does not guarantee the right.
Other Questions and Answers: