Self-Employment as second income

qtlaydee

Hi there

I have found various threads on this so apologies but I cannot find an answer to my question:

I have a full time PAYE job.

I wish to register as self-employed for some occassional consultancy work I do outside of my main employment.

Do I need to fill in form CWF1?

If so there is nowhere on this form to write about my main employment. Is this ok? Am I correct to assume they will not think I have left the PAYE job and am going completely Self-employed?

Also when I come to fill in forms for the self-employed job will I need figures from my main job?

New to all of this so any help appreciated.

Best Regards

KiKi

Yes, you do need to register as SE - and no, they won't assume you've left your PAYE job. You can very legitimately do both.

You will need to fill in a tax return each year. There is a section on it for PAYE (you will need the info from your P60 each year for this) and then a section on SE. HMRC use that to determine your total income from both sources, work out what tax you owe, then deduct what you've already paid through PAYE and charge you the rest, and any NI owed.

HTH
KiKi