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self employed and paye tax queries 2 jobs

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martdon2002
martdon2002 Posts: 1 Newbie
edited 22 December 2010 at 12:51PM in Cutting tax
Hi,
I was hoping that i could get some advise on this situation i am in,

1. I currently am employed full-time Paye earning 60K basic
2. I have just started also being self employed delivering training earning approx 15k

my question is this, i use my own car for travelling across the country to deliver the training-can i claim tax relief for this?
All other expenses..lunches, stationary etc......can i also claim tax relief for this?

I am currently paying in the higher tax bracket for my PAYE job and was wondering if it was worth while continuing with my self employment as i'm guessing that this will also need to be in the high end tax bracket?

Is training 100 pc tax free?

Advice will be appreciated

Thanks

Comments

  • Yes, you can claim tax relief for the use of your car for your self employment. You need to also include the cost of travel and subsistance and accommodation as well as training materials. You will be liable to 40% tax on your the profits from your self employed income - only you can decide whether its worthwhile for you.
    Don't know what you mean by is training 100% tax free - there would probable be tax relief for the traineee but it depends on the subject and why that are taking the training.
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