2nd Job!? Tax!? Help!?
31-05-2005, 03:50 PM
#1
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2nd Job!? Tax!? Help!?
OK to help support my ever growing alcohol problem I have thoguht about getting a second job! as I have had no luck so far finding 1 well paying 1! 
(Alhtough my fingers r still crossed somehtin comes along)
BUt I wanna know if its gunna be worth my while!
I.E. dont wanna work a extra few nights & most of it go to the fookin TAX man!
So is there a web site where I can put in some figures & it works it all for me!?
Thankyou!
(Alhtough my fingers r still crossed somehtin comes along)BUt I wanna know if its gunna be worth my while!
I.E. dont wanna work a extra few nights & most of it go to the fookin TAX man!
So is there a web site where I can put in some figures & it works it all for me!?
Thankyou!
31-05-2005, 03:57 PM
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Works out about 25% on a second income. You're tax code will be BR.
Trick is to work enough hours to put extra cash in your pocket, but not too many hours so the tax man takes too much.
Around 10-13 hours a week should see you ok depending on what the hourly rate is.
Trick is to work enough hours to put extra cash in your pocket, but not too many hours so the tax man takes too much.
Around 10-13 hours a week should see you ok depending on what the hourly rate is.
31-05-2005, 04:00 PM
#6
Lewis, provifing your total income stays under about 30K (cant remember current cutover point) you will just pay 25% tax plus your NI (8% i think?) so about 32% (its compound so you dont just add them up)
Basically, allow for losing about a thrid of it and you will be in the correct ball park.
Basically, allow for losing about a thrid of it and you will be in the correct ball park.
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31-05-2005, 04:03 PM
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If you do decide to take a 2nd job altho you will be taxed at BR (Basic Rate) you still need to fill in a P46. A lot of Companies dont realise this. All you do is sign it, you dont tick any of the boxes at the top of the form.
Failing to do this means you'll be taxed at ER (Emergency Rate) which is ridiculously high.
Failing to do this means you'll be taxed at ER (Emergency Rate) which is ridiculously high.
31-05-2005, 04:08 PM
#10
Originally Posted by b9kos
Originally Posted by chip-3door
Originally Posted by Doug Stirling
Lewis, what are you good at??
as in: what skills have you got?????
as in: what skills have you got?????
01-06-2005, 07:10 AM
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Doug,
I look good in pretty much anythin I wear!
I got quite a few qualificatiosn in IT & Electronics! which I have never actually bothered using!
& Im sure alochol as actually made me forget most of it!
I do pick up things very quickly so cvan normally turn my hat to suit most things!
cheers clare & chipper!
I look good in pretty much anythin I wear!
I got quite a few qualificatiosn in IT & Electronics! which I have never actually bothered using!
& Im sure alochol as actually made me forget most of it!I do pick up things very quickly so cvan normally turn my hat to suit most things!
cheers clare & chipper!
01-06-2005, 09:29 AM
#12
You have a personal allowance each year, for 2004/2005 tax year it was Ł4745 - if you earn less than this you don't have to pay any tax, or tax you do pay can be claimed back in April.
The next Ł2020 you earn is taxed at 10%, up to Ł29'380 is at 22% and anything over Ł31'400 is at 40%
When i was a student and worked as a lifeguard and at Halfords, i had to pay tax, but as long i kept my annual earnings less than my personal allowance i could claim it back at the end of the tax year
The next Ł2020 you earn is taxed at 10%, up to Ł29'380 is at 22% and anything over Ł31'400 is at 40%
When i was a student and worked as a lifeguard and at Halfords, i had to pay tax, but as long i kept my annual earnings less than my personal allowance i could claim it back at the end of the tax year
01-06-2005, 09:36 AM
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Originally Posted by grey RS
You have a personal allowance each year, for 2004/2005 tax year it was Ł4745 - if you earn less than this you don't have to pay any tax, or tax you do pay can be claimed back in April.
The next Ł2020 you earn is taxed at 10%, up to Ł29'380 is at 22% and anything over Ł31'400 is at 40%
When i was a student and worked as a lifeguard and at Halfords, i had to pay tax, but as long i kept my annual earnings less than my personal allowance i could claim it back at the end of the tax year
The next Ł2020 you earn is taxed at 10%, up to Ł29'380 is at 22% and anything over Ł31'400 is at 40%
When i was a student and worked as a lifeguard and at Halfords, i had to pay tax, but as long i kept my annual earnings less than my personal allowance i could claim it back at the end of the tax year
01-06-2005, 09:38 AM
#14
You have misread the fact that its ONLY the amount over the tax threshold that gets charged at the higher rate, so you pay nothing on the first few thousand, then 10% on some, then 25% then 40% on the higher stuff.
01-06-2005, 09:41 AM
#15
Too many posts.. I need a life!!
grey RS is spot on,
there is no 'ER' emergency rate tax as someone has stated.
Have a good read of this off the inlandrevenue website
There is no "trick" to it you get taxed as a percentage, more you earn more you pay
there is no 'ER' emergency rate tax as someone has stated.
Have a good read of this off the inlandrevenue website
Works out about 25% on a second income. You're tax code will be BR.
Trick is to work enough hours to put extra cash in your pocket, but not too many hours so the tax man takes too much.
Around 10-13 hours a week should see you ok depending on what the hourly rate is.
Trick is to work enough hours to put extra cash in your pocket, but not too many hours so the tax man takes too much.
Around 10-13 hours a week should see you ok depending on what the hourly rate is.
01-06-2005, 09:42 AM
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Lewis long time no speak hope all is well with you,,, i think the trick is to find out some way of earnign a second income without paying tax, as we all know that you get stung so much,, buying and selling a few motors here and there, i used to do this when i had more time and you can earn not bad money, but the problem is there is so many people doing this
01-06-2005, 09:47 AM
#18
The number of jobs you have is irrelevant basically, its the total earnings that are the key for tax.
So if you get 5K extra from another job, then you will be taxed the same as if you got a 5K pay rise in your current job.
Thats probably all you really need to know lewis????
So if you get 5K extra from another job, then you will be taxed the same as if you got a 5K pay rise in your current job.
Thats probably all you really need to know lewis????
01-06-2005, 10:07 AM
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ah that helps chipper!
so i aint payin tax on havin a second job itself!
so as long as i stay under the 30k mark it will make no differnce as if i got a big poay rise @ work!
thats what i needed to know really! thanx fella!
Scottye hows been m8!? i aint got the cash to buy a car to sale on really! or the effort lol!
Ran cash in hand would b nice!
so i aint payin tax on havin a second job itself!
so as long as i stay under the 30k mark it will make no differnce as if i got a big poay rise @ work!
thats what i needed to know really! thanx fella!
Scottye hows been m8!? i aint got the cash to buy a car to sale on really! or the effort lol!
Ran cash in hand would b nice!
01-06-2005, 11:50 AM
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i am fine thanks, m8, i hear you have strayed from the ford badge any regrets?
i have been really exciting and bought myself a 3dr focus zetec!!!! ok for a daily runner,, do you still go down the pub with our tone, popped in last week your work mate was there!!! i would suggest cash in hand we all know that we get taxed on what we earn what we buy it just gets swallowed up,, what sort of job you lookin for??
i have been really exciting and bought myself a 3dr focus zetec!!!! ok for a daily runner,, do you still go down the pub with our tone, popped in last week your work mate was there!!! i would suggest cash in hand we all know that we get taxed on what we earn what we buy it just gets swallowed up,, what sort of job you lookin for??
01-06-2005, 12:02 PM
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Yea m8 got me a 200sx! fookin love it! John is doin the clutch on it as we speak!
Nah dont go down the pub much anymore! fookin skint!
what focus is it!? sensisble is the smart way forward m8! hows the flat!?
tryin to find a cash in hand job on week nights though aint it! if i get a 2nd job job i ontl wanna do mon-thurs evenings
I got a few application forms comin to me for full time jobs & if 1 of them comes through then I wont need a 2nd job!
Nah dont go down the pub much anymore! fookin skint!
what focus is it!? sensisble is the smart way forward m8! hows the flat!?
tryin to find a cash in hand job on week nights though aint it! if i get a 2nd job job i ontl wanna do mon-thurs evenings
I got a few application forms comin to me for full time jobs & if 1 of them comes through then I wont need a 2nd job!
01-06-2005, 12:17 PM
#27
grey RS is spot on
Should have made it clearer, you get taxed 40% on any earnings over Ł31'400 (as Ł2020+Ł29'380=Ł31'400) it's the earnings after the Ł31'400 threshold that are taxed at 40%, so if you earned Ł32'000 per annum, only Ł600 of it would be taxed at 40%
have my Personal Tax Computation & Capital Gains Tax exam in 2 weeks
the lessons have somehow always digressed onto Tax Avoidance Of course, Tax Evasion is completely illegal
01-06-2005, 12:20 PM
#28
Tax avoidance is actually a responsibility of the directors of a company and its perfectly reasonable for a company to dismiss directors on the grounds that they havent been engaging in a positive tax avoidance policy
01-06-2005, 12:30 PM
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Katie been & done the student thing!
Steve I was thinkin more like bar work again! had a fookin gr8 laugh last time i did it! & now Im single again means i get all the pissed up 16yr olds ive been spiking!
Steve I was thinkin more like bar work again! had a fookin gr8 laugh last time i did it! & now Im single again means i get all the pissed up 16yr olds ive been spiking!
01-06-2005, 12:43 PM
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Lets b honest!
Its Bristol! i aint gunna have to roofy up a 16yr old! just tell her to meet me in the bogs in 5 & I'll give her a free cider & black! job done!
Its Bristol! i aint gunna have to roofy up a 16yr old! just tell her to meet me in the bogs in 5 & I'll give her a free cider & black! job done!
01-06-2005, 12:49 PM
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Steve Brisotl has the highest pregnant teenager rate in the country!
Kids with kids!
Katie, u sound like you've been in 1 or 2 toilets for other than the correct reasons!
Kids with kids!
Katie, u sound like you've been in 1 or 2 toilets for other than the correct reasons!