n8net wrote:hi,
just wud like to know what tax code one shud be in to minimise tax payments ?
I am currently on payee and wud like to take up a part time positon.
but will I be taxed more in my part time job ? how does it work for the
taxation purposes ?
any1 got link for info on this ? some ppl advice me to go self-employed ?
appreciate any advice from this knowledgable forum
thanks
Well if you start second job then most probably you have to pay tax on basic rate.
Now a days most common tax code is 944L if you do only one job.Its up to you on how you want your tax to be deducted.(I mean from part time job or from both of your jobs).
When I start my part time job I got a letter from HMRC in which they inform me about my tax calculation.In the letter they wrote that they will deduct tax from my both jobs.
I called them back and requested that I want to pay the basic rate tax only from my part time job and I don,t want any changes in permanent job tax code etc.Done.
Now I only pay tax from my NEW part time job.