This is a really quick note on the whole tax and HMRC situation, with multiple jobs.
As with all these finance based videos online; this is NOT financial advice, I am not advocating for this. I am just telling you what my experience has been and sharing it.
You do you, toots and peeps!
So whenever I get a new HMRC form (that’s the body that collect your tax – read ‘rob you blind’ – in the UK) for a new job, I always tick the box that says “this is my only job”.
This means that your new employer need not know you have another job – it’s none of their business really. Also, because HMRC is a public sector body; they will take about six months to catch up and do their calculations.
What I have found is that, even then, this largely does not affect the tax I am paying on my multiple other roles. What was quite funny was that my first job was the one that got “emergency taxed”, whatever that meant. I can only assume someone in a poorly fitting workshirt saw my bank account and raised an alarm – she’s getting more money from elsewhere quick let’s rob her. Even then, the rest of my income was untouched and I was still making quite a bit of money. So my income has largely been unaffected by it.
Again, this is not financial advice. Just my experience.
See you at the next post, yeah?
Love & Laissez-faire! x