New job! Confused about tax?

Frarte · Joined: 16 May 2018 Posts: 1

Hi

I'm currently in training to be mainly a tutor/coach preparing people for intensive, long-run exercises which will mostly include triathlons. However I'll be working part time in the evenings/some mornings, and still work full time at my current job. I was wondering how the tax would work on having two jobs works? I've looked at this after tax calculator but there doesn't seem to be an option to add multiple jobs - so how is the tax calculated? Will it be separate on both jobs, or just added together as a total income? I can't figure it out and could use some advice Smile

Thanks!

Whisk · Joined: 09 Jun 2005 Posts: 8739 Location: London

Is the coaching work on a self employed basis or will you have an employer? If self employed then you'll have to file a tax return and pay any additional tax to HMRC yourself. Make sure you don't spend all your coaching income before you pay your tax...

You'll pay tax on your second income at your marginal rate, so your tax free allowance would be used by your first job and if you are a 20% tax payer your 2nd income would be taxed at 20% until you hit the 40% band and then everything else taxed at 40%. If you are a higher rate tax payer, your 2nd income would all be taxed at 40%.

If you want to work out how much tax you are likely to pay in total, you should be able to put the combined income into that calculator. It shouldn't make any difference to the total amount of tax paid however many jobs you are working. You still get the same tax free allowances and tax bands (unless you earn over £100k)
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Gus · Posted: Wed May 16, 2018 3:16 pm Post subject:

Really, really recommend getting a tax accountant.

Find a good local one, they don't really cost that much (I think I pay ours around £90 pa) and by hell they can save you some money.

When I finally got round to getting one, she went back through the last few years of my life and managed to reclaim thousands of pounds I never knew I was owed.

They'll also be able to tell you any of the best ways to minimise your tax obligations especially if you're holding down two jobs.. and if you're going self-employed, what you can use to offset etc..

HTH.
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BMX · Posted: Thu May 17, 2018 2:27 pm Post subject:

Both the above are good advice, the only thing I would add is that if you are not using your whole personal allowance on your main job,(would have to be very low pay), you can ask your tax office to split your tax code between the two jobs.
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tuckandgo · Joined: 03 Sep 2012 Posts: 461

DanielBrown · Joined: 14 Jan 2019 Posts: 2

If you don’t really know whether you want to change your job or not, I would recommend you to think about further details. If you would found some vacancy that would be interesting and fascinating for you, I would recommend you to try. Just see the resumesplanet. A very nice resource where you can get professional assistance with new job applying process.

explorerJC · Joined: 20 Oct 2005 Posts: 16060 Location: Farthingstone

Poet. · Joined: 06 Aug 2013 Posts: 390

OFF TOPIC!!!

Also...this seems like a ruse for a new user to come along and spam something, but in a better way???

DELETE MODS

Gus · Posted: Sun Jan 20, 2019 4:26 pm Post subject:

Of course it is.

But I salute his ingenuity Very Happy

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GrahamO · Posted: Sun Jan 20, 2019 6:11 pm Post subject:

Gus · Posted: Sun Jan 20, 2019 7:21 pm Post subject: