Working two jobs and tax help please

[Armour923]

Hi,

I have just started a 2 hour job a day. Earnings will be around £500 a month for this job alone.

Next week I’m due to start a job where I’ll be working 24 hours a week too on top of this one. I’m worried I will be over taxed ?
How does it all work? Do I need to inform anyone ? I was looking at picking up a third job which is an hour a night but I think it might not be worth it after reading online I could be taxed too much.

thanks

Even at NLW the 24hr job will take up all your tax allowance of £12570.

You should ask for the income from the other job to be taxed at Basic Rate - tax code BR. ISTR that the 'new starter' form would allow one to say that the entirety of your tax allowance was used against other income.

Have word with payroll.

You can get your tax code split so it's partly applied to each job. You won't ever be taxed too much in the long term as at the end of each tax year everything is reconciled and added up for all your earnings over the tax year and if you've overpaid, your tax code will be adjusted going forward to compensate for this.

As for whether it is worth taking on a third job, that would depend on how much you'd earn overall, what money you need to earn and the time it would take vs other commitments. You don't say how much jobs 2 and 3 pay, but it's probably worth working as much as you need to at least until you hit the 40% tax bracket, as you still keep the vast majority of what you earn 65-75% ish, depending on whether you have student loan repayments.

An advantage of having multiple shorter hours work compared with a single full time job is that NI contributions aren't cumulative like tax is, so you'll likely only pay NI on the 24 hours job.