Javascript must be enabled to use this form.

Web Site Search (click below)
Searching With Just One Click
 

Business & Finance

offered 2nd job

I currently work part time (13 hours) £7.15 per hour and have been offered another job part time for 5 hours £6.20 per hour. How much take will I have to pay?


hursty15  Tue 07/10/08 19:31
Important Notice
The information provided by The AnswerBank does not constitute financial, investment or tax advice. You are advised to discuss your specific requirements with an independent financial advisor prior to entering into any binding contracts. The AnswerBank terms and conditions of use apply.
Buenchico
Tue 07/10/08
20:15
We're well into the current tax year (which started in April), so your total earnings for the year won't exceed your personal allowance of £6035. So, up until next April, you'll pay no tax.

From next April, if your pay rates remain the same and the Chancellor doesn't increase the personal allowance, you'd pay just £1.78 per week in tax. In practice, the personal allowance will almost certainly rise, so if your pay rate doesn't go up, you'll still pay no tax. (If your pay rate also rises, you might have to pay a pound or two in tax but the amount will still be very low).

Chris
Skyline D
Wed 08/10/08
10:52
In practice he will pay tax, albeit it'll be reclaimable eventually.

You can't split personal allowances for PAYE. The higher earning job will get all of them, the lower earning one will get none of them and tax will be payable at a BR (Basic Rate) code of 20%.

So on job two he'd pay £6.20 per week tax on five hours work. It would however be reclaimable at year end.
Submit the above question and answers
 add to del.icio.us  add to digg  add to furl
 add to reddit  add to Technorati  add to Blinklist
 add to StumbleUpon  add to squidoo  add to ma.gnolia
 add to Cocomment  add to Netscape  add to Fark

Have Your Say

Do you support embryo stem cell studies?

Yes 

No 

Don't know 

about us | [Ctrl + D] adds us to bookmarks Switch to UK Net Guide You are in The AnswerBank  switch to UK Net Guide