Will I get taxed for having two part time summer jobs as a student?
I’m only working until the end of September. However I have two jobs- one at a bar which is 16 hours per week and one at a shop which is 20+ hours a week. On my HMRC tax account it says i’m Expected to pay 0 tax this year. However I’ve heard that if you have two jobs you will get taxed? Is this true?!? I hope not.
Original post by mojitogirl
I’m only working until the end of September. However I have two jobs- one at a bar which is 16 hours per week and one at a shop which is 20+ hours a week. On my HMRC tax account it says i’m Expected to pay 0 tax this year. However I’ve heard that if you have two jobs you will get taxed? Is this true?!? I hope not.
The second job may tax you (depending on whether their payroll department is any good or not). You just reclaim back the overpaid tax at the end of the year if this happens - not difficult or time consuming to do and a nice lump sum when it arrives.
It depends how much you are earning per week and in total.
In total, if your annual income is below the personal allowance (£12,500) you don't have to pay income tax.
If you are earning above £162 a week for any one job, nic may be deducted automatically and you will have to apply for a nic refund at the end of the tax year.
In total, if your annual income is below the personal allowance (£12,500) you don't have to pay income tax.
If you are earning above £162 a week for any one job, nic may be deducted automatically and you will have to apply for a nic refund at the end of the tax year.
Original post by londonmyst
It depends how much you are earning per week and in total.
In total, if your annual income is below the personal allowance (£12,500) you don't have to pay income tax.
If you are earning above £162 a week for any one job, nic may be deducted automatically and you will have to apply for a nic refund at the end of the tax year.
In total, if your annual income is below the personal allowance (£12,500) you don't have to pay income tax.
If you are earning above £162 a week for any one job, nic may be deducted automatically and you will have to apply for a nic refund at the end of the tax year.
Oh ok. Probably am getting more than that tbh but it’s only over summer. Will they tax me loads or just a small amount considering i’m The 1250L tax code
Original post by mojitogirl
Oh ok. Probably am getting more than that tbh but it’s only over summer. Will they tax me loads or just a small amount considering i’m The 1250L tax code
That's the £12,500 personal allowance tax code.
National insurance contributions are 12% of your earnings above the weekly exemption rate.
Add up your total expected income this tax year than takeaway £12,500, what ever is left you'll pay 20% income tax on it. (As long as your annual salary is below £49,500)
For NI, add up all your expected income for the tax year, any amount below £8632 - no NI to pay, if it any amount falls in between £8632 and £50k, you pay £12% NI. If in between this, minus £8632 than 12% is calculated.
Hope I didn't make it too confusing 😬
For NI, add up all your expected income for the tax year, any amount below £8632 - no NI to pay, if it any amount falls in between £8632 and £50k, you pay £12% NI. If in between this, minus £8632 than 12% is calculated.
Hope I didn't make it too confusing 😬
Original post by mojitogirl
Oh ok. Probably am getting more than that tbh but it’s only over summer. Will they tax me loads or just a small amount considering i’m The 1250L tax code
Original post by Kash.1
For NI, add up all your expected income for the tax year, any amount below £8632 - no NI to pay, if it any amount falls in between £8632 and £50k, you pay £12% NI. If in between this, minus £8632 than 12% is calculated.
National Insurance doesn't work like that. NI is calculated separately for each pay period. Unlike income tax, for NI there's no concept of aggregating the whole thing across the tax year.
@martin7 you are right.
I didn't explain it properly about the ni.
The NI numbers I gave above is for yearly. Use this yearly rate divided by weekly, monthly - which your pay period is, to work out how much NI you'll pay.
Example: if you are paid weekly; £8632 divide by 52 is £166. If your weekly pay is below this, you'll pay no NI.
If your weekly pay is between £166 and about £960 (numbers from my previous post divided by 52) you pay 12% NI only on the portion above £166. Say you got paid £200 on weekly payslip, takeaway £166, you're left with £34 where 12% will be taken from. And if you don't earn anymore in that tax year you won't get that NI back unlike the income tax.
I didn't explain it properly about the ni.
The NI numbers I gave above is for yearly. Use this yearly rate divided by weekly, monthly - which your pay period is, to work out how much NI you'll pay.
Example: if you are paid weekly; £8632 divide by 52 is £166. If your weekly pay is below this, you'll pay no NI.
If your weekly pay is between £166 and about £960 (numbers from my previous post divided by 52) you pay 12% NI only on the portion above £166. Say you got paid £200 on weekly payslip, takeaway £166, you're left with £34 where 12% will be taken from. And if you don't earn anymore in that tax year you won't get that NI back unlike the income tax.
(edited 4 years ago)
If they do tax you then just claim it back if you have not used your annual personal tax allowance. Have you got the correct tax code for both your employments?
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