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Posted Mon, 29 Jan 2024 07:14:34 GMT by
I am a director of a company and therefore complete a self assessment (SA) form to record both the salary and dividends I take from the business. In addition to this I undertake work via an Umbrella company whereby that income is taxed at source (PAYE I believe). Is there a requirement to record that income on my SA given it's already been taxed?
Posted Wed, 31 Jan 2024 16:18:56 GMT by HMRC Admin 2

Yes, the Self Assessment tax return should show all of your worldwide taxable income and capital gains. You would need to complete 2 sections of SA102 or select 2 employments on the online tax return.  

The tax return will add all of your income and work out the tax payable on that and give credit for tax already paid.

Thank you.

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