taxable income on second jobs

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disco924

Active Member
Posts
485
Location
manod, north wales
just wonder,d if any one knows if i can get an nt tax code for the second job as i am self employed and the second jobs income is going to be used to pay workshop rent and rates until the business gets established so there not so much strain on the purse strings. any help or advice would be
appreciated or pointing at where to look
 
Iirc will have to double check but when you put in the buisness tax return at the end of the tax year you can claim back the excess tax you may have been paid. Are you not able to work for the second job on a self employed basis?
 
if you are being paid for the second job as paye you will be issued with a tax code - it may be an emergency code to start with but usually it will reflect the paye work as though this was your sole employment. what happens then is when you do your self employed return you will have to fill in both sections a(paye and self employed) to calculate your tax etc.
this will then calculate your tax ni to pay at the year end
i used to have to do this and is quite straight forward and believe it or not hmrc were very helpful
 
This is what I did, started working for myself and also signed on with an agency to do a bit of driving work to help pay the bills. The agency gave me a P46 to fill in as it was my only PAYE job and like the previous poster said, HMRC were very helpful.

Steve
 
thanks guys for the help i,ll keep trying the hrmc so far they,ve only had me on hold for 4 hours on wednesday on 3 hrs on friday i think i,ll try get first in the que monday
 
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