I'm a full time employee on monthly salary, all done by the book.
I'm thinking of doing some part time contracting in my spare time, maybe 15 hours per week.
How can I estimate how tax will effect me, do I have to notify my current workplace of the extra jobs I'm doing, or can I handled taxes myself (prefered)
For example, annual gross salary of £25k. Side contracting rate of £100 per day (2 days worth per week) so extra £200 per week. How much of that extra money will feed the tax man?
can I file taxes on my own? I don't want to have to pay for someone to do this, otherwise the net money I'm getting will come down considerably, and losing my weekends for 6 months needs to have some incentive..