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Anyone self employed with PAYE job?

5 replies

Plussizejumpsuit · 22/10/2020 12:32

Didnt know where to put this sorry! I work freelance and I'm in my first year of self employment. I've just been offered another job. I'll do this in addition to my current freelance contract as at the moment I have 6 days a month project management and some adhoc other work.

This other job is 2 days a week and can be freelance or PAYE. I'm thinking I'll just stick to having all my work freelance as this seems more simple. But as I'm new to it I'd like anyones experience of doing both self employment and PAYE. Are there any benefits of will tax and NI just be a mess?

OP posts:
Newbeginningsnow · 22/10/2020 12:36

My husband just gives his P60 to the accountant and that’s it. There’s not really anything to it as far as I know.

Plussizejumpsuit · 22/10/2020 12:48

I can't afford an account and I'm good with excel and budget management so I do my accounts myself. Just less familiar with tax!

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carolebaskinfedhimtothetigers · 22/10/2020 12:59

You just enter your p60 figures onto your tax return at the end of the year and it will deduct the tax you have paid through PAYE from the tax you owe overall, it won't cause any complications at all Smile

carolebaskinfedhimtothetigers · 22/10/2020 13:01

Re if there's any benefits to doing it freelance, probably not as there won't be any tax savings (like I said it literally just gets deducted from what you owe) but obviously you will have employee rights if you choose PAYE.

Plussizejumpsuit · 22/10/2020 13:38

@carolebaskinfedhimtothetigers
Thanks! Yes I was thinking about employment rights too. So maybe if its not going yo make it more complex then PAYE is the way to go?

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