Tax question? Second job

[Dmsm]

Hey everyone,

Hoping someone in the know might have some idea about tax on a second job.

Currently working p/t an on around 21k a year, I'm thinking of going self employed to supplement my wage.

If I'm employed and self employed am I right in thinking anything I earn via self employment will be taxed at 20%?

Yes, that’s right. So long as you earn less than ~£50k in total

Yes

You'll be able to claim either the £1,000 trading allowance, or actual expenses for your self-employment. Not both though.