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Dividing tax allowance if on PAYE and self employed

4 replies

Titsywoo · 02/05/2018 16:37

I have two jobs. One is paye and is about £8600 a year. The other is self employed and is about £3000 a year. Does this mean I will pay no tax on the self employed job? It's literally just working for a nursery and they wanted to be invoiced. There are no expenses etc just the hours I work charged. Thanks :)

OP posts:
GreggsSausageRolls · 02/05/2018 16:49

You would need to complete a tax return showing both sources of income and then calculate if you have a tax bill. You may have to pay national insurance too.
Have you registered with HMRC as self employed? All untaxed income needs to be declared.

Titsywoo · 02/05/2018 16:54

Yes I have registered. I've actually been doing this for 4 years but my paye income used to be higher so wasn't split. Thanks I just wanted to check if it would work itself out through my self assessment which it looks like it will.

OP posts:
snowy1982 · 02/05/2018 16:55

Tax free allowance for current tax year is £11850 so technically you would have no tax to pay, but as PP said you may have national insurance. If you earn more than £1000 from self employment you are supposed to register for self assessment

RunningHurts · 02/05/2018 17:24

YES it will be worked out when you do you’re self assessment tax return

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