Are you taxed on a part-time Job

yes, approx 2000 pounds

mrcheerful

The personal allowance is 4,895. So deduct that = 4,105 taxable pay. 10% tax on the first 2,090 = 209, + 22% tax on the remainder (2,015) 443.30. Add the 209 = 652.30 tax. There's NI on top, of course. It would be about 450 depending. These are all annual figures.

An accountant will come along and agree or disagree with this.

Rob Graham

Thanks for the information, hardly worth it after paying the childminder.

Need to find another way to generate more money to make ends meet, any ideas, (not willing to break the law)

Council tax of 180.00 per month is the biggest drain. I'm the only bread winner. Wife has found a part-time job to help out.

We don't smoke or drink, no sky subscription, no mobile phones, no loans but getting overdrawn every month which is worrying me as we only spend on what is required, things getting difficult.

would

Why do you say that. The tax is very little.

If paying the childminder was known about the tax won't make a lot of difference.

Could you be entitled to Working Tax Credits and Child Tax Credits? They can be very lucrative.

Have a look at

Penn

You can get 50 per week *each* tax & NI deductable for childcare, if you employer has a scheme (most will because it saves them NI). This could save you a good proportion of the tax your wife would pay.

Or you may get the childcare tax credit.

the 600 quid makes a difference? you would be willing to work part time for a year for a profit of 600 ?

It can be difficult to get by as a family on one income, but you need to cut your cloth accordingly. We took a major drop in income between us around ten years ago and suddenly found that things we had regarded as necessities were in fact luxuries.

Tax credits and things have certainly helped in the last few years, and almost despite my previous attempts to harm my career my salary is creeping up again.

Check everything you spend and look at ways of doing it cheaper. I spend over 3 a day on sandwiches at work- I'm sure making my own would cut that by two-thirds and save 500 a year.

The most amazing thing for me is how much other people spend on clothes. We spend very little money on clothes and buy stuff from cheap shops or sales when we do.

Look at jobs for your wife that do not involve needing child-care, perhaps working weekends when you are at home?

As Andy said check out available help with childcare. You may get quite a bit of it back if it is a recognised service.

Budget carefully, set money aside for different thing. We had a cash tin with a section for utilities, clothes, food etc and did almost all our shopping in cash. Taking money out of the tin seemed more real than flashing a plastic card.

We remortgaged to get a cheaper rate (have you considered that?) and the adviser was very surprised that we did not have any consumer debt. I told him we can't afford debt. We don't earn enough to take on debt.

Good luck and remember small steps that achieve a little bit each are more likely than finding a masterstroke that cures all your problems.

Neb

X-No-Archive: yes In message , Nebulous writes

Some sound advice but I'm not so sure about individual funding. Treasury hate individual funding (remember the motor vehicle 'road fund' licence?) although, curiously enough, they impose it on local authorities.

Funny thing about money, or the lack of it. We married in 1960 after a long savings slog to put together a 25 per cent deposit on a house. Money was tight and so was credit but it didn't seem to matter very much because there was bugger all to spend it on. It was only 15 years since the end of the war. England was manufacturing ferociously; anything decent at the Earls Court Radio Show was marked 'for export only'. About nine months delivery for a new Ford Anglia or a Mini-Minor (both around GBP480).

Things changed when a Habitat shop opened in Kingston. Wandering around floors crowded with brightly coloured and desirable furniture was a helluva culture shock to those used to the brown drabness of G-Plan stuff. We looked longingly at the pink sofas and bright curtain material. All we could afford was four rolls of gaily coloured miracle wipe-clean Vymura wallpaper for the bathroom at ten shillings (50p) per roll -- an irresponsible extravagance!

Our financial circumstances were drastically changed when we paid a recent visit to a Habitat store. We could've brought anything we wanted but there was nothing we did want.

In the late 1960s, early 1970s when we bought a car we tended not to look at the price but at the monthly HP repayments and work out whether or not we could afford them. In those days I was paid in cash and, like you, money went into one of those multi-compartment cash tins. Today I look hard at the price because I hate spending serious money on something that, not only depreciates, but knocks a big hole in ones capital or savings. When I do bestir myself and buy a car, it's usually three or four-years old -- but always a top-of-range model.

Having money tends to make me want to hang onto it. This probably makes me more of an anti-social misfit and a drain on society than chavs hanging about on street corners, nicking cars and setting fire to them. At least they're doing their bit to ensure that cars are replaced and the wheels of industry kept turning.

In message , mrcheerful . writes

How do you figure that out? That seems far too much.

9000 - 4895 = 5105

2020 taxed at 10% = 202

5105 - 2020 = 3085

3085 taxed at 22% = 678.70

9000 pa = 173.08 pw

173.08 - 94 = 79.08

79.08 taxed (NI) at 11% = 8.70

8.70 x 52 = 452.40

202 + 678.70 +452.40 = 1333.10

So, not quite 2000 tax.

Marcus

"Marcus Fox" wrote in message news:iname.321$ snipped-for-privacy@newsfe3-gui.ntli.net...

Yeah it's late and I can't do maths and I used last years 10% tax band. Post corrected above.

Marcus

"Marcus Fox" wrote in message news:8same.322$ snipped-for-privacy@newsfe3-gui.ntli.net...

mrcheerful

I made I right pigs ear of this one LOL. Second correction above.

Sorry, I'm going to bed now.

Marcus

"john boyle" wrote

Presumably, assuming that there is another (main) job as well, and that the part-time job therefore has tax code 'BR' :- 9K x 22% = 1,980 (ignores N.I., which some people don't class as a 'tax'!)