PAYE and Self employed in same tax year question

[ben rawlinson]

Hi

Ive just completed my sole trader accounts up to April 5th 2011, but from April 6th 2010 to May 28th 2010 I was in a PAYE job which I have a P45 from. I went self employed on June 1st 2010.

The tax on my PAYE has already been taken by HMRC obviously but I am conscious of declaring all my earnings for the tax year so I am wondering how I can make sure HMRC account for both PAYE and self employed.

Do you enter the PAYE information (income, tax paid) on the Self employed (short) return somewhere?

I intend to enter the information online if that makes any difference.

Many thanks, Ben

[antonycc]

Hello,

I think you are pretty much there. When you file on line your income from self employment and PAYE employment will be combined to give you a complete tax bill.

DIY Accounting just deals with the business taxation. For Self Employed this would be the Self Employment supplement to the Self Assessment forms.

For Self Employed paying yourself through drawings with another wage paying job:

• Complete the Self Employment supplement to the Self Assessment forms with information from DIY Accounting.
• Your income from another source is entered in an Employment supplement in the Self Assessment return.
• Other personal taxation factors (pension contributions, charity donations

etc...) are all entered in other parts of the Self Assessment personal taxation return.

Thanks,

Antony.

[Truemanbrown]

If you are both employed and self employed, make sure that you are paying the correct amount for national insurance.