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Tax advice for 2 jobs please

1 reply

GoinSouth · 25/09/2024 18:46

Here's the scenario.

Currently coming to end of full time temping contract, a couple of opportunities have come up..

Firstly: Via an ex-colleague, have been offered a freelance position, providing ad hoc assistance for a small charity - a few hours a week, monthly invoicing (what he calls, a side hustle)

Secondly: Possibility of a perm position either full-time or part-time, will know next week.

I've already agreed to do the first job as if I'm out of work, it'll provide a little extra income.

If I'm offered the main job, and also undertaking the side hustle, what's the situation regarding tax etc.?

Grateful for any advice, thanks.

OP posts:
Lucanus · 25/09/2024 21:20

Probably just need to register as self-employed for the side job and complete an annual tax return. Should be quite straightforward. HMRC will work out how much tax you need to pay overall - combination of PAYE and a tax payment due by January the following tax year, so you'll want to keep money aside for that.

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