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Posted Sat, 06 Jul 2024 11:14:51 GMT by Mark25810
Hi there so I sell as a side thing on ebay and registered as a sole trader etc My tax for 23/24 is due jan but want to pay it now but finding it hard understanding what I need to fill in On the online forms it asks on the tailor secrion..... Were you an employee (or director or office holder) or agency worker in the year to 5 April 2024? So does this mean was i working a normal job outside this ebay selling? As im sure they know im emplyed part time as a cleaner as i oay tax lol and they asked this when I filed as sole trader and self assessment im sure So I click yes or no? As I work part time as a cleaner and i sell stuff on ebay Just when i clicked no and filled rest of it all out and it askes how much total i made as sole trader it then asked if i want to deduct the £1k yearly trader allowence which i did, when it came to the calculation part to show how much tax I need to pay it said i need to pay no tax. If i however going on the thinking that i click yes as i do work another job and fill in job earninfs and tax paid on the job from my p60 it eventually says i owe just over £160 tax Bith of those calculations are less than what i adde dup...comes to £220 i owe tax wise from my ebay sales. So im confused.
Posted Fri, 12 Jul 2024 09:48:36 GMT by HMRC Admin 25 Response
Hi Mark25810,
If you are employed to do a job of work at the end of the tax year, you will receive a P60.
You would tick 'yes' to employment and show your pay and tax from the P60.
As a sole trader, you tick 'yes' to self employed.
This will allow you to declare your gross turnover and either claim £1000 trading allowance of itemised expenses.
Self assessment adds up all of the sources and types of income declared and works out how much tax is overpaid or underpaid on them.  
If you submit your tax return and then later discover a mistake, you have 2 years from the end of the tax year, to amend that mistake.  Eg, the 2023 to 2024 tax returns needs to be submitted no late than 31 January 2025 and you would have until 31 January 2027 to make any amendments.
Here is guidance to "My first Self Assessment tax return"
My first Self Assessment tax return
Thank you. 
 
Posted Fri, 12 Jul 2024 10:00:36 GMT by Mark25810
Thanks for the reply I ended upd doing what you said and paid the tax. It calculated it less than what I thought, when i added up my ebay sales and took away the £1k traders allowance and then worked the tax it came to about £220 But it calculated it at about £169 I added all details from part time job from p60 Would the lower amount the website worked out be because of the lack of tax I pay in my part time job
Posted Tue, 16 Jul 2024 11:00:40 GMT by HMRC Admin 21 Response
Hi Mark25810,
That is certainly possible - if your tax free allowances were not entirely used by your PAYE employments, the unused allowances will then be applied to your Self Assessment income.
If you would like us to confirm and explain your calculation, contact us by webchat or phone via:
Self Assessment: general enquiries.
Thank you.

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