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Posted Thu, 11 Jan 2024 15:17:21 GMT by
Hi there, Throughout the year I work for multiple companies by being directly on their payroll and therefore they pay my taxes etc. However, this year I have worked few jobs that I needed to submit an invoice directly to the company and I am responsible for sorting out those taxes. Am I correct that for any jobs that I worked on that the above is the case, between the 2023 April - 2024 April, I need to declare these taxes by October of 2024? If that is so, when registering on Self-assessment currently, would I be classed as a "self-employed" or third option of "For any other reason, for example because you get income from renting out a property or you need to pay the High Income Child Benefit Charge". Just want to ensure that I am declaring it correctly / on time etc. Many thanks
Posted Tue, 16 Jan 2024 17:10:10 GMT by HMRC Admin 10
Hi
The work where you are directly on the payroll is employment.  Where you are required to submit invoices, is classed as self employment.  If your total invoiced in the tax year is more than £1000.00, then you will need to register for self assessment, as self employed.  You can do this at Set up as self-employed (a 'sole trader'): step by step .  When completing your tax return, you declare your world-wide income, so you would include your employment income.  Self assessment will calculate your tax and national insurance for your self employment.

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