Tax on second job

O

oxygen

Registered User
Messages
25
Hey, I hope someone can answer this for me. I currently work in a barjob, but am starting a software dev job monday. Its a salary of 32,000 per annum, thing is I like the bar job and would like to keep on a Friday or Saturday. but anything I earn over 40 euro a week will be taxed at 40 percent int eh 34,000k per annum bracket. Does anyone know is there any way I can avoid this? such as transfering tax credits or getting tax back next year?
 
If you have a pension you can reduce your tax liability by putting extra into it until your combined wage is only taxed at 20% .Also make sure your getting all your tax credits .Check www.revenue.ie Alot of people arent and its so easy to do.
 
As we are one quarter of the way through this tax year, you will only earn about €24,000 in your day job so you will have €10k of the lower tax rate band left to allocate to your bar job for the year. Just give your tax office a call (have your pps number and your two employers' tax reg numbers to hand) and tell them you only want 24k of your standard rate cut off point allocated to the new job.
 
Also you should get 35400 standard rate cut-off point in 2008 tax year. 34k was 2007
 
hey.

I hope I dont get in trouble for bumping an old thread. My situation has changed a bit, and I was hoping someone might know how I can calculate my tax bill.

Basically, I was recently moved up to 40k per annum in my main job. This puts me well over the %20 tax bracket. I had intended on working one weekend in the bar, and when I see the additional tax I pay on the barjob payslip I would hand in my notice there.

But the payslip remained the same. All my bar work was taxed at %20. I expected it to be immediatly taxed at the higher rate, since if I work two shifts in the bar instead of one, I get half the second shift taxed at the higher rate.

Could I be landed with a high tax bill at the end of the year possibly?

Thanks alot in advance
 
it sounds like you have some of your standard rate band allocated to the bar job -
 
Does that mean that even though i dont see the higher tax rate on the bar job pay slip, Im still paying it all the same. I want to avoid working a second job at a high tax rate if at all possible.
 
Stop and think about it for a second.

Nothing related to your bar job has changed - they don't know how much you do or don't get paid from your main job (and for good reason - your privacy!).

All that has changed is that you now earn more, and pay more tax (some of which is now at the high rate) in your main job.

Until / unless you change the split of your standard rate cut off point between the two jobs, then the amount you're taxed in the bar job won't change.

I hope that makes sense!

EDIT: What I'm telling you is you ARE paying high rate tax on the bar job. It's just deducted by your other employer, because they have to hit you with the high rate on a lower amount, due to a portion of your standard rate allowance being allocated to your 2nd job...
 
Thanks allot wind up and mandle brot. That does make sense a bit. I will phone the tax office tomorrow and find out how I have it split. Seems basically tho that I am working extra hours to be taxed at the higher rate. I'll probably hand in my notice at the bar.

Much appreciated.
 
You must log in or register to reply here.
Back
Top