2nd jobs for high rate tax payer

roundthebend · September 2023

If I could find something with just a few hours a week on a casual basis I wouldn't mind trying my hand at something different, and could do with a few extra pennies. But, being a high rate taxpayer means most of those jobs are close to minimum wage which makes it not worthwhile.

Any ideas what I could do to earn some extra dough? My primary income is from software engineering. I could look at some private work related to that but I've been down a similar path before and it's a ball ache.

Maybe I should just book more acoustic gigs.

Dominic · September 2023

Are you young(ish ) , easy on the eye , a nice physique,above all discreet ..........and happy to be paid in cash ?

strumjoughlamps · September 2023

Dominic said:

Are you young(ish ) , easy on the eye , a nice physique,above all discreet ..........and happy to be paid in cash ?

Not much cause for gardening work this time if year tho.

Stratavarious · September 2023

I gigged to keep sane in a high pressure, high paying job. What are your hobbies? Has to be fun.

Boutique dog walking service?

rhinofeet · September 2023

Can't you just put everything you earn from the second job into a pension to reduce the tax rate and make it worthwhile?

roundthebend · September 2023

rhinofeet said:

Can't you just put everything you earn from the second job into a pension to reduce the tax rate and make it worthwhile?

That's something I wasn't aware of. And it's certainly the kind of thing worth considering.

fretmeister · September 2023

If you have a significant other who is not a higher rate earner, then if your 2nd job is going to be a self-employed gig, set up an uneven partnership or LLP with them.

You do the work but the organisation invoices for it and you only get minimum wage - or indeed, lower as the rules on that don't apply to the self employed for obvious reasons.

Axe_meister · September 2023

Dominic said:

Are you young(ish ) , easy on the eye , a nice physique,above all discreet ..........and happy to be paid in cash ?

Lol. When I was working as an IT consultant on long term projects away from home, we used to joke about being escorts as we had the perfect setup. Nice company cars, hotel already paid for, we were fairly young, well educated, well travelled.
Just easy on the eye was the biggest issue.

TTony · September 2023

roundthebend said:

If I could find something with just a few hours a week on a casual basis I wouldn't mind trying my hand at something different, and could do with a few extra pennies.

Is there a bit of a conflict in the purposes there?

A few hours per week, casual basis, try-something-different doesn't immediately suggest (to me) that it's going to be a major earner. Might even be a voluntary thing.

Whereas earning extra dosh to the extent that you'd need to worry about the tax payable, suggests that the extra money is the main driver.

Fishboy7 · September 2023

You'll need to do a self assessment return. Even if it's all taxed at 40% it could erode your Personal Allowance.

stickyfiddle · September 2023

TTony said:

roundthebend said:

If I could find something with just a few hours a week on a casual basis I wouldn't mind trying my hand at something different, and could do with a few extra pennies.

Is there a bit of a conflict in the purposes there?

A few hours per week, casual basis, try-something-different doesn't immediately suggest (to me) that it's going to be a major earner. Might even be a voluntary thing.

Whereas earning extra dosh to the extent that you'd need to worry about the tax payable, suggests that the extra money is the main driver.

This was my first thought.

Are you trying to maximise income, or just do something enjoyable in your spare time that doesn't cost you money?

roundthebend · September 2023

Well, I'd like to earn some more money but I don't really fancy pulling pints and wiping tables for £6 /hour take-home.
There might be work where my existing abilities mean I am suitable, despite me not using them in my current job - e.g. I might be quite good at building flat-pack furniture and could do some evening/weekend jobs which might pay £15+ per hour.

It would seem that the self-employed route is one option, because I could earn a higher hourly fee. Also, because I could then employ my wife to do admin meaning the tax burden would be reduced (she's not a high rate earner, and only works part-time currently).

I'm going to look into the idea of pushing all of the second income to a pension. Although I wouldn't see that cash in the bank, it would certainly be nice.

fastonebaz · September 2023

Is there a big OnlyFans scene for middle aged men with a slight paunch?

fastonebaz · September 2023

fastonebaz said:

Is there a big OnlyFans scene for middle aged men with a slight paunch? Actually let's just ask @Lebarque for tips.

RaymondLin · September 2023

Be an Uber driver?

stickyfiddle · September 2023

Uber doesn't really bring income, as much as sacrificing your spare time to convert your car's depreciation into cash.

Some other options, off the top of my head, and obviously skills-dependent:
- gardening
- some sort of Excel-based consulting, depending on what you're good at (aimed at small businesses)
- copy-writing
- proof-reading / copy editing
- transcription
- web dev
- graphic design
- tutoring

crosstownvamp · September 2023

Tuition for kids doing A level computing? I'd guess you could also cover A level maths. Offer discounts to single parent families?

TTony · September 2023

stickyfiddle said:

Uber doesn't really bring income, as much as sacrificing your spare time to convert your car's depreciation into cash.

That gets a LOL!

TTony · September 2023

roundthebend said:
It would seem that the self-employed route is one option, because I could earn a higher hourly fee. Also, because I could then employ my wife to do admin meaning the tax burden would be reduced

Also because you might be able to redesignate a lot of existing expenditure into costs of that venture, meaning that you end up with much reduced taxable profits to have to worry about revenue splitting

Lebarque · September 2023

fastonebaz said:

fastonebaz said:

Is there a big OnlyFans scene for middle aged men with a slight paunch? Actually let's just ask @Lebarque for tips.

I'm afraid I'm of little use here. There's no way my paunch could be described as 'slight'.

spark240 · September 2023

Work in the local music shop or rehearsal rooms?

Dominic · September 2023

Lebarque said:

fastonebaz said:

fastonebaz said:

Is there a big OnlyFans scene for middle aged men with a slight paunch? Actually let's just ask @Lebarque for tips.

I'm afraid I'm of little use here. There's no way my paunch could be described as 'slight'.

my wife's cooking would soon rectify that.......think of it as aversion therapy

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2nd jobs for high rate tax payer

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