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Posted Fri, 27 Sep 2024 23:12:09 GMT by Gary Tg
I'm self-employed, my income earned on my job last fiscal year was less than my expenses on running my business, but I have other income on my saving. When calculating the income tax, will all the incomes summed up first and then deduct the expenses to calculate the income tax, or just calculate the income tax based on the income from my saving?
Posted Fri, 04 Oct 2024 05:55:57 GMT by HMRC Admin 25 Response
Hi Gary Tg,
When completing your tax return you will tailor the return to show your different income streams.
Please see guidance here:
How do I tailor my Self Assessment tax return?
Thank you. 

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