A 2nd job (complicated)

movingtables · 26 Jul 2009 at 18:46

So I have this security job.

8:30am-1pm mon-fri.

If for example i wanted to get a 2nd job doing what ever for example:

2pm-5pm mon-fri.

would i get murded on tax?
how would i give my 2nd employer my P45 as my 1st employer has this?

Do i have to tell my employers i have an extra job ?

anyone here have 2 jobs?

cheers.

capriboy1978 · 26 Jul 2009 at 19:00

it would be worth checking your contract re 2nd jobs, If there's no explicit clause I wouldn't tell my employer... some get a bit shirty about it.

You won't get murdered on tax, your first job will use all your taxable allowance and you'll get taxed on all the income from the second job (assuming your first job pays more than ~4k a year ). Only pitfall could be if your second job pushes you into a higher tax bracket... In which case everything you earn above the threshold will be taxed at a higher rate - not a big prob though.

You won't need your p45 for your new employer, I can't remember if there's an alternate form, don't think so, p45 just helps your new employer (if thats the case) sort your tax out.

iraiguana · 26 Jul 2009 at 19:03

You get a second tax code and you will still pay the usual amount of tax with added earnings, eg

Job #1 should be your highest earning job to cover your basic untaxed allowance for the year. All earnings over this allowance will be tax at 20% (can't remember if this has changed again?) with NI

Job #2 You will be taxed at 20% to the limit of your combined earnings then 40% for all above that.

eg you earn £15k with job one, and £ 10k with job 2

You pay tax for effectively earning £25k.

Magic_x_uk · 26 Jul 2009 at 19:42

I have a 2nd job and my 2nd job puts me on BR (basic rate) tax code. You will also pay another load of National Insurance.

movingtables · 26 Jul 2009 at 19:45

ok thanks guys

Sycho · 26 Jul 2009 at 19:57

Magic_x_uk said:
I have a 2nd job and my 2nd job puts me on BR (basic rate) tax code. You will also pay another load of National Insurance.

I currently only have one job but on Basic Rate tax code at the moment(BR on payslip) does this automatically change? or do i have to call the tax office? it's mauling my monthly pay lol.

Guv · 26 Jul 2009 at 20:09

Sycho said:
I currently only have one job but on Basic Rate tax code at the moment(BR on payslip) does this automatically change? or do i have to call the tax office? it's mauling my monthly pay lol.

Speak to your payroll department.
If you haven't given them a p45, complete a p46 and give that to them.

Magic_x_uk · 26 Jul 2009 at 21:04

Sycho. You will get yout 'over' tax paid back anyhow. So don't worry about that.