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| *Ostroff, Fair and Company>>>United Kingdom Taxes |
How is tax worked out when youve got two jobs & is the tax higher on your second job? |
How is tax worked out when youve got two jobs & is the tax higher on your second job? Depends on the total amount of earnings. Tax is calculated on all of your earnings added together. There is a personal allowance of around 拢4700 which is untaxed. Then some at 10%, some at 22% and anything else at 40%. you would generally be a high earner to have much tax at 40%. fill out your W-4 the same for both jobs. W-4 is the tax document you fill out for your job so they know how much you want taken out of your wages. you declare your exemptions, etc. if you always claim a "0" then you are a "0" for each job. then you put everything together when you do your taxes at the end of the year. you pay taxes based on your wages, not how many jobs you have. sorry, i jsut realized that you're in the U.K. my answer applied to the US....sorry, again. worked 2 jobs for the past 3 years. If you only work part time they take out less taxes. I would fill out the w-4 form it asks you if you have more than 1 job. I would have the most tax taken out as you can. You can even take out more if you like a big refund at the end of the yr. both. You are eligable for a personal allowance each year where you pay 0% tax, there is then a small 10% band and then you begin paying 22% tax. If you have two jobs, it is assumed that the personal allowance and the starting band is used there. You will pay basic rate tax at 22% on your second job. |
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