Need advice on tax code with new job & self employment

PlutoinCapricorn

If being a casual worker was out of the question, then registering as self employed was the best thing to do, all the more if you were bringing in money that made a big difference to your income.

Many other people on this forum seem to have had trouble designating their main source of income, so you are not alone.

I would not worry about completing your tax return: all you will need for the employment section is the P60 for FY 2009/10. It actually highlights the boxes to use on the tax return. HMRC will have had the same information from your employer, but if you give them income figures from all sources and the amount of tax paid and file online they can calculate there and then how much tax you need to pay (or be refunded).

PlutoinCapricorn

I wonder whether fengirl would agree with you about registering Jimmo!

Many people who want to do the right thing and register as self employed do so without having much idea of what they will be earning. The existing system is fine for people who have no other income and who bring in enough to live on, but the people who just want to earn or do earn a bit extra here and there are in a difficult position.

John_Pierpoint

PlutoinCapricorn wrote: »

I wonder whether fengirl would agree with you about registering Jimmo!

Many people who want to do the right thing and register as self employed do so without having much idea of what they will be earning. The existing system is fine for people who have no other income and who bring in enough to live on, but the people who just want to earn or do earn a bit extra here and there are in a difficult position.

Register and then fill in the forms for earnings below the threshold.
Make sure that you end the year below the threshold in you accounts by incurring some expenses if necessary? Remember National Insurance is just another tax.

fengirl_2

I wouldn't advise anyone to register as self employed unless they were running a genuine, full time or substantial part time business. I agree with jimmo that once you are in the SA system its very hard to get out of it and it can be a pain which lingers for many years.
There are lots of people who do a bit of casual self employed work (myself included) such as mystery shopping, one off training, web design, wedding cake making, etc and I dont think that registering as self employed is right for them. If they are under the class 2 threshold, then certainly not and its perfectly fine to declare their self employed income under what used to be called 'casual fees' in my day and which I think is now 'other untaxed income'.As long as you are paying the tax and NIC (if any), HMRC wont have a problem.