tax

[K99]

I have just taken on a second job working part time in a bar, just cos need the extra cash. I'll be doing on average 12-16 hours per week. A measly �5 per hour but better than nothing. Will I get taxed much on that with it being my second job? And will it be worth it to do either more hours or less? I'm confused.

[Scarlett]

You have to earn over about �5000 a year to get taxed which you probably are already. You will get taxed on these new earnings, and your rate will go up if you go over the next threshold- which I think is about �10,000? Someone here will know. It is the same as any job- you will lose about a third of it to tax. So the more you work, the more you will lose. That's life, I'm afraid.

[xrayspecs]

essentially any new earnings will be taxed at emergency rate. this is a flat rate of 25% off the top of your new earnings regardless of how much they are. Tax differentials and tax free earnings don't apply to second jobs. If you are paid in cash then you need to inform your tax office as your employer may not be taking the correct amount of Tax and NI from your wages, for which YOU will ultimately be liable to repay.

[Consie]

Assuming you use all your personal allowance in your first job and so long as you don't earn over the lower earnings limit for National Insurance contributions (currently �82 per week) then you will only have to pay basic rate tax of 22% on you wages. So you could work the 16 hours, earning you �80 gross for the week, less approximately 17.60 tax = 62.40. Only you can decide if it's worth it...