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Which tax year?
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s100_2
Posts: 143 Forumite
in Cutting tax
Am currently self-employed. It is getting harder to get enough work and so i have applied for a regular part-time job to supplement my income. This part-time job will be via PAYE.
Am trying to sort out a start date, if i start mid-march then obviously it will be in the 2008-2009 tax year and make my self-assessment more complicated. if i wait till the 1st april and get paid at the end of the month does that then fall into tax year 2009-2010? even though the tax year doesnt start till the 6th april? or should i start the part-time job on the 6th april?
sorry for rambling, but would appreciate the advice - when should i start the job in order for earning to count towards the 2009-2010 year? thanks in advance.
Am trying to sort out a start date, if i start mid-march then obviously it will be in the 2008-2009 tax year and make my self-assessment more complicated. if i wait till the 1st april and get paid at the end of the month does that then fall into tax year 2009-2010? even though the tax year doesnt start till the 6th april? or should i start the part-time job on the 6th april?
sorry for rambling, but would appreciate the advice - when should i start the job in order for earning to count towards the 2009-2010 year? thanks in advance.
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Comments
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The tax year for PAYE is the year when you are paid.0
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So start on 01 Apr 2009...............................I have put my clock back....... Kcolc ym0
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thanks! just sorting it all out in my head before i accept!0
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But if you haven't earned much money this tax year, it might make sense to get a months wages in this tax year to use up your allowance?0
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thanks pee, but the start of the year was ok, and i've filled out my allowance so don't think thats an issue :-) Just planning ahead for the upcoming months.0
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Why would it make your self-assessment more complicated to start in this tax year? I would have thought that if you start a PAYE job you will just need to fill in the employment pages with your info from your P60 when it arrives - it shouldn't make that much difference to the self-assessment tax bill because you will aready have paid income tax & NIs as you go along on your new job. Or am I missing something?0
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no, not missing anything at all, i think i was. This will be my first self-assessment this year and thought it would be more complex than that. Reading through all the self-assessment stuff now to get more of an understanding.0
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no, not missing anything at all, i think i was. This will be my first self-assessment this year and thought it would be more complex than that. Reading through all the self-assessment stuff now to get more of an understanding.
It shouldn't be too complicated at all - if you file online, HMRC do the calculations automatically when you submit the form, so it shouldn't cause a problem. I guess it's an extra half an hour or so to fill in the extra pages, but if you've got paid work you could do, it seems a shame to miss out just for the sake of a bit of admin!0
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