Tax question - both PAYE and SE. How much to save?

[ViscountDreams]

Hoping someone can help me with this please.

I have a full time PAYE job, annual salary £36k.

I've recently started to pick up some additional contractor work in the evenings on a self-employed basis. So far this is averaging out at about £200 a week - so circa £10k a year in SE income.

I know that I'll need to complete a Self Assessment, which is fine. But how much should I put aside to cover any tax/NI?

So far I've just been mindlessly shoving 30% of my SE earnings into a savings account but I think this is probably too much.

I definitely won't cross into higher rate tax territory so it's all basic rate tax. But what of National Insurance? Obviously I pay NI through my PAYE job, will I need to pay anything extra for my self employed work? Or is it just 20% tax I'll need to pay on this, so I could drop the amount I'm putting aside to 20% instead of 30%?

I'm finding it impossible to find clarification online for when you're both PAYE and SE, it all seems aimed at one or the other. Any help really appreciated!

I would suggest the best way is to register a self assessment account on HMRC, fill in the self assessment form and when you’ve answered all questions it gives you a calculation based on the income you’ve shared from all sources. You don’t have to submit and can edit till the last day before the due date. It will give you an estimate of the tax you may be owed on your earning. Remember to keep your P60 to hand to answer questions like tax code and others. Hope this helps.

Any London based Mums who have recently or are about to give birth and have selected the Kingston Hospital to have their delivery at, please can you share your experiences? Also please indicate whether you had a c-section or vaginal birth. Did you find the team supportive? Did you have any post birth complications?

There’s a calculator here that works it all out for you: taxscouts.com/calculator/employed-self-employed-tax/

Please can mums who chose the Kingston Hospital to have their babies in, share their experiences. Please can you share both antenatal, delivery and postnatal experience. The pros and cons and any top tips and advice. Especially looking to hear from mums who had C sections and any post birth complications and how they felt supported. Many thanks!

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