Paying PAYE but self employed for 2nd job

sparklewoman
by sparklewoman 02 December 2012  |  Comments 1 comment  |  Love Love  0 loves

I am employed full time & on PAYE, earning around 39K. However, am about to take up extra work on a self employed basis - what are the tax implications?

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Comments (1)

  • Ruthless Investor
    Love rating 39
    Ruthless Investor posted

    Hello OP,

    You may have been able to get advise from other sources as I can see that you posted your question on 2 December and you did not get a reply from anyone.

    When you become self-employed, you will need to register with HMRC for self-employment and then at the end of the tax year you will need to fill out a self-employment tax return, which will include sections for both self-employment and employed status. You will need to declare your PAYE earnings and tax as well as self-employment earning on this tax return. Either you can determine your (if you know how to) final tax payable/receivable liability yourself or you can let the HMRC do it for you when you submit your tax return.

    Regards

    Farrukh Jamil

    Posted on 30 January 2013 | Love Love  0 loves Report

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