The benefits would still be taxable though.
If you're just over the limit you always earn more than if you're under the limit anyway. You don't pay 40% on everything, only the portion that's over the limit.
Am I paying too much tax.
- Thread starter Solaris
- Start date
The benefits would still be taxable though.
If you're just over the limit you always earn more than if you're under the limit anyway. You don't pay 40% on everything, only the portion that's over the limit.
I got a question to add to this. I work two jobs whilst at college (full time), one at a pub and one at Curries. Where do I stand on paying tax? My first curries pay slip was for £8.60 something which I got mass taxed on down to £7.06 . I hope that doesn't continue as it will be a massive amount of the £4.41 a hour I earn. And being in full time education I thought it was mostly exempt?
I have just started at curries but by the amount of shifts I am going to have between the two jobs it looks like I'm going to be over £100 a week. Last time I managed this at the pub i was taxed 2p which is nothing. On top of this I get taxed on interest at the bank which is also wrong isn't it?
Fast becoming sick of this country! As I don't get £30 EMA like other kids I have to work livid to get by. Will be doing 34 hours next week tues-sat with college ontop of it which is a total **** take.
I have just started at curries but by the amount of shifts I am going to have between the two jobs it looks like I'm going to be over £100 a week. Last time I managed this at the pub i was taxed 2p which is nothing. On top of this I get taxed on interest at the bank which is also wrong isn't it?
Fast becoming sick of this country! As I don't get £30 EMA like other kids I have to work livid to get by. Will be doing 34 hours next week tues-sat with college ontop of it which is a total **** take.
Nope, it's on tax free if you earn under £5220 a year. which in two jobs your very unlikely to do so. So you'll pay the same tax as the rest of us.
Check your tax code on your first jobs is 522L. Not sure what the tax code for *** second job will be, probably BR at the moment. In which case you need to phone up the tax office.
Yeah I doubt i'll be over £5220 a year as the extra work at curries is only for the next 2 months for the Christmas peak. I'll wait and check the next payslip as there was talk of the first one always being subject to emergency tax
You can only be 'exempt' from tax, which I use lightly, if you are a student that only works during the Holidays and you can only earn £5225 then you're taxed at 0T W/M1.
So I'm guessing you work after college and weekends etc. You don't qualify for this.
If you are working two jobs, you can only receive a tax free allowance from one of them, the other must be taxed at Basic Rate. Best thing you can do is just work one job and do more hours there.
If you're earning less than the threshhold you shouldn't be paying tax on your savings either.
Ask at your bank for an R85 form to allow you to get gross interest.
If your going to earn less than that. you need to get a form of the tax office. So you don't pay tax. But if you go over it will be taken out towards the end of the year. So rather than being spread over, you'll have relatively large amounts for the last month or so.
Think that's my problem, any way to get out of this or claim it back? or switch which one I will given the free allowance on for a month or two?
9-10 Hours waitering at the pub @ 4.50 is what I'm currently exempt from tax on, would rather it be 24 hours @ 4.41.
I did try for extra shifts at the pub and was doing an extra night pot washing per week but that was real tedious work and did your back in due to the retarded layout of the kitchen. Eventually got the curries job to get the extra finance needed over Christmas.
Soldato
How do you get a k code?
The cash value of your benefits are greater than your annual allowance of 522L.
e.g your allowance is £5225, the cash value of your car, in the eyes of the revenue is £9000.
5225
-9000
-3775
Giving your a K code of K377.
@dovey Personally i'd keep a tax free allowance on your 24hr shift, and be taxed at Basic rate on the pub job. Call your local tax office and explain it to them, the will then advise your employer to amend your tax code.
Associate
uhh i was working all this out in my head today for my boyfriend. just done the calculator and its come out the same!
A lot more, yes but not 'just over'.
your still better of if your just over. You don't pay the higher rate for all your pay. just what is over the threshold.
You never ever see a reduce in pay by earning more. Where ever it falls in the tax bracket.
Ok, I hear you but imagine this scenario.
I spend all year doing designs for people charging, say £500 each. I put away 30% of that (inc NI contributions) for tax.
When the big 40 comes, I then have to put away 50% (inc NI contributions) to be safe. So my nice £500 project becomes a miserable £250.
As I said, soul-destroying.
I spend all year doing designs for people charging, say £500 each. I put away 30% of that (inc NI contributions) for tax.
When the big 40 comes, I then have to put away 50% (inc NI contributions) to be safe. So my nice £500 project becomes a miserable £250.
As I said, soul-destroying.
Soldato
No what you do is use a tax calculator, all tax is soul destroying. It's still far better being on the top tax code than a lower one. Although i agree paying tax sucks. I don't see if you work hard why you should pay more.
It should be a fixed amount for everyone. For all money.
Amen to that.
I'd happily pay 50% tax.
.... if the government actually spent it correctly.
Amen to that.
I'd happily pay 50% tax.
.... if the government actually spent it correctly.
But why bother? The irony is you (most of OCUK it seems) won't claim it back with benefits, even if you were in hardship...so why shun people that do? Most of the time its the only way you're ever going to claw any tax money back.