Taking on a second job?
1 minute to read
Swapping the classroom for an office over the summer? Or perhaps you’re coding by day, mixing cocktails by night? Like many contractors, you might find yourself taking on an extra job at one time or another, either in addition to your normal agency work or as a stopgap between assignments.
But how do you keep your tax affairs in order? Here are your simplest options:
1. Work through Key Portfolio
We help temporary workers in all sorts of different industries and partner with hundreds of recruitment agencies. So if you start a contract with a new agency – even one in a very different industry from your day job – we might be able to help.
It’ll mean that all your income would be centralised through Key Portfolio.
Once you’ve got a contract lined up, just get in touch and we can advise.
2. Take on the work as a second job
If for any reason we can’t employ you for your new job but you will still be working with us now or in the near future, you’ll want to remain an employee of Key Portfolio. However, your new job will mean that you also now have a second employer.
It’s important that you make clear to this employer that you’re taking the work on as a second job, so that they can allocate you the most suitable tax code. If you don’t let them know, it’s likely you’ll end up underpaying tax.
Sticking with either of these options should see you through any occasions where you’re taking on a second job. Best of luck with your new job and we hope you enjoy the change of scenery!