Peanut999
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Self employed - self assessment and agency's payslip
Hi.. Question related to building trade self employment (kind of), where working via agency and getting paid via payroll company, which collects a fee for each payslip. Apologies if question seems simple, but I just got mixed up regarding which amount I would use for self assessment where I need to specify gross income. Example weekly Payslip: Contracted sum: £780.00 Agency fee: £16.00 Gross pay: £764.00 Deducted tax (CIS): £152.80 Payment to bank: £611.20 When doing my self assessment I think I need to specify top sum (contracted sum - £780.00 ) as my gross income (before taxes and expenses). I will specify paid tax separately and add agency's fee as expenses. is that the correct way? Or I need to specify only taxable amount £764.00 as my income before tax. If that's the case, can I still add agency's fee as expense? Second way does not seem right, but I got myself confused now. Perhaps someone with similar experience can share what do they specify as income.