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Working a second job
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I work full time but have had to look for some weekend work to help boost my finances. The second job is minimum wage 5.80 per hour and is approx 16 hours and my main job is 16,000 per annum. Can anyone help with regard to paying tax and national insurance and advise what I would roughly take home from this second job. Many thanks in advance.
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For more on marking an answer as the "Best Answer", please visit our FAQ.Unless the allowances are allocated between the two salaries you will already have used up your tax free/NI free allowances via your main income so you should assume you will pay full tax and NI on your part time additional salary. The weekly gross pay of the new job will be approx £93, but will fall to approx £60 after tax and NI.
Albalass is absolutely right about the NI. You won't pay any in the second job unless you earn more than £110 in any given week.
Factor is now right about the take home. £74.24 per week if it's exactly 16 hours and up or down by 80% of £5.80 for every hour more or less that's actually worked. If you get to 19 hours worked then NI will start to become payable, albeit at 11% of the value above that so pennies.
Factor is now right about the take home. £74.24 per week if it's exactly 16 hours and up or down by 80% of £5.80 for every hour more or less that's actually worked. If you get to 19 hours worked then NI will start to become payable, albeit at 11% of the value above that so pennies.