Employed and Self Employed

Hello I’m currently self employed. I would like to know that if I get a job as being employed while being self employed, the tax I pay on PAYE does this get deducted from the self assessment payment I have to make at the end of the year. Also does both incomes get added up I get taxed on the whole yearly income and pay PAYE and also pay self assessment on my yearly income. So if I earn’t £30K in employed and £55k self employed the tax I pay on the employed (PAYE) does this get deducted from my self assessment.

Your self assessment form will include both employment and self employment data and the whole will be considered and calculated accordingly.

Hi Mark Jones

If you are an employee, your employer will deduct class 1 NIC from your earnings.  
If you then become self employed in addition to being employed, you would need to register for self assessment as self employed (Set up as self-employed (a 'sole trader'): step by step).  
If your net profits exceed the threshholds, then you will be subject to class 2 and class 4 NIC.  
Where this is the case, your class 1 NIC deductions will be taken into account when calculating your class 4 NIC please see National Insurance: introduction.

Thank you

Hi. I am planning to start my own customs advisor job (not performing as a customs representative) besides my daytime job. Is there a How to start aid available? I would be interested in: - which form of self-employment would be the best? - is there an obligation to invoice my customers? - should I pay NI and any other fees on a monthly/quarterly base? Regards,

Hi Bubba76

Please refer to When you need to set up as a sole trader

Thank you