Christmas Work

[sneijder]

I have still got two weeks holiday remaining (due to switching positions), I hadn't realised this and have decided to get a part time vacancy for this period. Someone has metioned to me that this is seen as a 'second income', and I'll get taxed in the stones to the tune of 45%, is there any truth in this ?

[pdV6]

Afaik, only if it takes you into the 40% zone when added to your 'normal' income.

[chim_knee]

As far as I understand it - ANY money you earn is essentially "added" together and your tax liability is on that amount.

Doesn't matter whether you earn it in one job or a thousand. You are taxed on the money that comes in (income if you will) to your posession. Going out on a limb here, but I suspect that's why it's called Income Tax.

[vixpy1]

chim_knee said:

I suspect that's why it's called Income Tax.

Is it really.. I thought it was

THIEVEING BASTARD TAKING ALL YOUR HARD EARNED MONEY TAX

[sneijder]

Smashing ! I'll put myself to use then.

[whoateallthepies]

I work two jobs all year round, and pay basic rate on the second job (about 23% I think)

HTH

Steve