Motoring0 min ago
Tax on second job
5 Answers
I do a second third and forth job. Do I pay more tax by earning my money in this way than if I earned the same amount of money in one job?
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Correct.
However there is every possibly your take-home pay will be greater because of the impact from NI deductions. Provided your 2nd, 3rd and 4th jobs all each fall below the NI threshold, you will pay no employee's NI on any of them, whilst additional earnings from the main job would merely be subject to yet more 'take' by HMRC in terms of NI.
However there is every possibly your take-home pay will be greater because of the impact from NI deductions. Provided your 2nd, 3rd and 4th jobs all each fall below the NI threshold, you will pay no employee's NI on any of them, whilst additional earnings from the main job would merely be subject to yet more 'take' by HMRC in terms of NI.
Even if the additional jobs are above the NI threshhold you're still getting four allowances for it instead of one so it's still much cheaper to earn in that way in terms of NI.
Ultimately the tax position will be the same however the cash is earned. However it is possible that if all four jobs are low earning and all the tax code is given to the first one then you may be paying too much tax initially. You'll be entitled to reclaim it at the tax year end though.
Ultimately the tax position will be the same however the cash is earned. However it is possible that if all four jobs are low earning and all the tax code is given to the first one then you may be paying too much tax initially. You'll be entitled to reclaim it at the tax year end though.
Just remember that the PAYE system is notoriously bad at issuing appropriate PAYE coding notices for individuals with more than one employment source. You could easily end up paying either two much or too little tax under PAYE initially. You can, as mentioned, claim the overpayment back at the end of the year (if the coding notices are not by then corrected). But also if you have underpaid as a result then you have an obligation to report it and you will probably have to stump up.
It is possible that should file a tax return when you have the first and only job and the second job would be the same.
For 2010 a single taxpayer not a dependent on another taxpayers income tax return can have up 9350 of income free of income taxes from wages if they do not have any other worldwide income they would not be required to file a federal 1040 income tax return.
The state could have different amounts or filing requirements.
For 2010 a single taxpayer not a dependent on another taxpayers income tax return can have up 9350 of income free of income taxes from wages if they do not have any other worldwide income they would not be required to file a federal 1040 income tax return.
The state could have different amounts or filing requirements.
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