1980
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Employed and Self employed Tax / Non coded income
Hello and good morning, I've been self-employed for the last 3 years, however this year I returned to being a PAYE employer as well. 1 - Can I continue to have my self-employed account open even if I don't make money? I am asking this because I'm having less time now as I'm a PAYE employer too. However, this can change and I don't want to close my self-employed account. 2 - I sent my Self Assessment return for 2022/2023 in May 2023 but on my PAYE/personal tax account shows a " Non coded income " which is exactly the income from my self assessment. On " Your estimated PAYE income tax," that amount is included in my PAYE as a Total estimated income, so I understand that my self-employment income is being taxed as a PAYE too. I updated the info to the " Non coded income" be removed (still in progress). But my question is, shouldn't each income be taxed separately or is It a cumulative tax ? Thank you for your time. -
Declaring personal money transfer on self assessment
Hello, I'm a UK resident, self employed and employee. I want to make a transfer from my personal European bank account to my UK bank account to help me to buy a property. The money is not Income, but from a personal savings account. As I read the forum, I understand that personal transfers don't need to be tax declared in UK- apart from the money that generates interest or dividends in a UK bank account ,and in that case, it must be declared on self assessment. My question is: When doing my next tax return, on the "Foreigner" section, do I need to declare any money? is there a limit? or is only referring to foreigner income? Thank you for your time.