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how much will i pay in tax?

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  • how much will i pay in tax?


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Answer #1 | 14/12 2013 01:43
Your tax allowance will be split between the two jobs or you declare the higher paying one as your main employment. The tax office will then sort it out for each employer via the tax code to be applied in each case. You will not end up paying 'more' tax than you would if you earned the same amount in one job.
Answer #2 | 14/12 2013 03:37
This year you can earn £9,440 before paying any tax (going up to £10,000 next year). Anything over that amount is taxed at 20% - so if your total income comes to about £20,000 youwould pay £2,000 of that in tax (and there would also be National Insurance contributions on top of that).
Answer #3 | 15/12 2013 09:24
Your personal tax allowance (earnable without tax over the financial year) starts as £9440. Earnings over that pay tax at 20%. This is complicated because normally the large income is the primary and gets the allowances. What you do not tell us is the tax code on your current employment. You have to factor in National Insurance Contributions as well - and any pension scheme. For income tax and National Insurance try the official calculator on gov.uk/tax. You may have to phone the HMRC helpline if you get the jb to coreect your tax code.

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