2 Part Time Jobs, Is It Worth It?(Tax Wise)

[lumination]

Hello all,

Im in a full time job at the moment but have the opportunity to have a part time job elsewhere. im wondering if it would work out to have 2 part time jobs but i am wondering about the tax code, do you actually loose more money because you have 2 part time jobs?
Ta

[hc4361]

You pay the same tax and NI on two jobs as if you working the same hours in one job.

[lumination]

so it wouldnt really make too much of a difference with what they deduct tax wise?
Its just ive been told if i take on 2 part time jobs i might end up paying more in tax than what i would with just one job...

[ubasses]

No, you have a tax allowance of £10600 and you will pay tax on any amount over that, however it is earned. As long as the two jobs do not pay enough to put you in the higher tax bracket.

[furrypusscat]

You can also split the tax code allowance between the two. My OH had 3 casual jobs and split the code so each employer used the allocated code against his pay. Either way you will only pay tax over the annual allowed amount which ever way you choose to do it.

[lumination]

taking on the 2 jobs would for sure make me over £10,600. Think it would come to around 17k which is about what i am now with my current job, so am i understanding right that it would be the same amount of tax as im currently paying?

[furrypusscat]

Yes you should only pay tax on the total amount over £10600 how ever many jobs you have.

[lumination]

right, thank you so much for your help, tax is not the easiest thing to understand! Now i can go apply for this job i want! thanks all

[furrypusscat]

I found it best to split the annual amount between the 3 jobs so each employer had a separate tax code. If not done that way then any job in addition to the 'main' job would be taxed at basic rate, 20% which might look as though you would be paying too much tax but this would be sorted out at the end of the tax year by the office who deals with your taxation and if it was found that you had been overtaxed then a refund would be given. It was my preferred way of dealing with it, others may think differently.

[New Judge]

The answer given by hc is incorrect as far as National Insurance goes.

National Insurance for employees operates in a different way from income tax. With income tax there is a single tax free amount available per person per tax year (so it makes no difference how many jobs you have). The only thing you have to be careful of is to split your tax code correctly or you may pay too much tax and have to claim it back at the end of the year (which is a nuisance).

For National Insurance there is a fresh allowance for each job so long as it is with a different employer. For the current year you can earn £155 per week with each employer without paying any NI. So with two jobs you can earn up to £310 per week free of NI deductions (provided neither job gives you an income of more than £155). If you received £310 per week from just one job you would pay £18.60 NI each week. So as far as National Insurance goes you are better off having two jobs provided at least one of them pays you £155 or less per week.

[SecondJobs]

Part-time jobs are independent of your employer. If you are having multiple part-time jobs, it will not affect you in many ways in tax-related content.

If you are still looking for more part time jobs you can register yourself in websites like second jobs dot net.

You can register here: https://www.secondjobs.net/register/