2 jobs

mr-white · 03-03-2005, 02:31

when you have 2 jobs what happens with your tax, how much more do you pay ?

MW

Dunc · 03-03-2005, 02:49

depends on how much you are earning on each..

mr-white · 03-03-2005, 03:29

18k and 5k

MW

Gumparoo · 03-03-2005, 04:29

lol...i make that 23k...

so know'ing what the tax folks are like....your gonna come out with 3k to ur name

Cable Monkey · 03-03-2005, 08:05

The higher wage is the one all your allowances should be worked out on. The second wage should just be taxed at the maximum flat rate you are taxed at (22% I think). If the 5K represents cash in hand, the tax man will pick it up if you put it into a bank account if they choose to investigate you. All should be ok until you get towards the 40% bracket. You need to be looking at 30k before worrying about that.

mr-white · 03-03-2005, 14:37

im not doing anything dodgy.

at the moment my weekly pay is changing from 16k to 21k depending on overtime and im being taxed at 22%. so if i have the 2 jobs stated above i should still only get 22% tax ?

MW

Cable Monkey · 03-03-2005, 15:18

Quote:

Originally Posted by mr-white

im not doing anything dodgy.

at the moment my weekly pay is changing from 16k to 21k depending on overtime and im being taxed at 22%. so if i have the 2 jobs stated above i should still only get 22% tax ?

MW

Yes, up to the next threshold. Is there still a 25% threshold? If the next threshold is 40% then you should pay no more than your present percentage up to around 30k.

ArTizan · 03-03-2005, 17:26

I had always heard that just having two separate jobs has an affect and adds some extra tax or something...?

shifty.ricky · 03-03-2005, 17:46

Nope.

Its the amount you get paid not the number of jobs you have.

Halk · 04-03-2005, 17:34

About banks - Your bank is legally required to provide information for fraud investigation if asked by the appropriate authorities. However, they are prohibited from reporting you for tax evasion. They are legally obliged to report you for money laundering if they have reasonable grounds to suspect it and you can't give them a satisfactory explanation.

I do see people with a job seekers allowance and a wage being paid into their accounts. But I can't do anything about it. I find that really frustrating. So if outside of my job I saw someone evading tax, I'd report them in a flash.

03-03-2005, 02:31	#1
mr-white propane cooled Join Date: Apr 2004 Posts: 366	2 jobs when you have 2 jobs what happens with your tax, how much more do you pay ? MW

03-03-2005, 02:49	#2
Dunc Running with scissors Join Date: Dec 2002 Location: Cardiff Posts: 2,017	depends on how much you are earning on each.. __________________ Main Rig: Intel Q6600 G0, Asus Maximus Formula SE, 4GB Crucial PC2-6400, EVGA GTX 460 Superclocked, 500GB Samsung Spinpoint HD501LJ, Windows 7 . Aquacomputer cooled Lian Li V1000B+ Server: Intel Atom - D945GCLF, 2 x 200GB Samsung Spinpoints in RAID 1, 3 x 500GB WD Caviar Green in RAID 5 , CentOS 5.5 Mythtv Box: AMD X2 4850e, Asus M3N78 PRO, 2GB Corsair PC6400, GT220 1GB, 500GB WD Caviar GP, 1TB WD Caviar GP, 2 x Visionplus DVB-T card, Kworld DVB-S Card, HD Homerun, Mythtv 0.24, Fedora 14

03-03-2005, 08:05	#5
Cable Monkey OMG! Its huge! Join Date: Jan 2003 Posts: 1,123	The higher wage is the one all your allowances should be worked out on. The second wage should just be taxed at the maximum flat rate you are taxed at (22% I think). If the 5K represents cash in hand, the tax man will pick it up if you put it into a bank account if they choose to investigate you. All should be ok until you get towards the 40% bracket. You need to be looking at 30k before worrying about that. __________________ SB75G2 V2, 3.4EE, X1950Pro, 2 gigs Kingston @3.3.3, 500gig Samsung Spinpoint SATAII, Pioneer DV108

03-03-2005, 17:26	#8
ArTizan Member of the Month Join Date: Dec 2003 Location: Wakefield Posts: 1,731	I had always heard that just having two separate jobs has an affect and adds some extra tax or something...? __________________

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03-03-2005, 03:29	#3
mr-white propane cooled Join Date: Apr 2004 Posts: 366	18k and 5k MW

03-03-2005, 04:29	#4
Gumparoo New Member Join Date: Feb 2005 Posts: 10	lol...i make that 23k... so know'ing what the tax folks are like....your gonna come out with 3k to ur name

03-03-2005, 14:37	#6
mr-white propane cooled Join Date: Apr 2004 Posts: 366	im not doing anything dodgy. at the moment my weekly pay is changing from 16k to 21k depending on overtime and im being taxed at 22%. so if i have the 2 jobs stated above i should still only get 22% tax ? MW

03-03-2005, 17:46	#9
shifty.ricky Indian Name: Rants Often Join Date: Nov 2002 Location: Leicester Posts: 3,944	Nope. Its the amount you get paid not the number of jobs you have.

04-03-2005, 17:34	#10
Halk OAP Join Date: Feb 2005 Location: Hamilton, Scotland Posts: 446	About banks - Your bank is legally required to provide information for fraud investigation if asked by the appropriate authorities. However, they are prohibited from reporting you for tax evasion. They are legally obliged to report you for money laundering if they have reasonable grounds to suspect it and you can't give them a satisfactory explanation. I do see people with a job seekers allowance and a wage being paid into their accounts. But I can't do anything about it. I find that really frustrating. So if outside of my job I saw someone evading tax, I'd report them in a flash.