PAYE to Contractor/SE in same tax year

_Andy_

Hi guys

Been on phone to IR via 3 numbers and got nowhere..

Deal is until 2 weeks ago I was PAYE with previous employer.

Now contractor for diff company so obviously have to do own tax etc.

What I basically need to know is, given I've changed in this tax year/before April is, when will my contractor tax need to be paid? Would it be next financial year?

Many thanks

nomunnofun

_Andy_ wrote: »

Hi guys

Been on phone to IR via 3 numbers and got nowhere..

Deal is until 2 weeks ago I was PAYE with previous employer.

Now contractor for diff company so obviously have to do own tax etc.

What I basically need to know is, given I've changed in this tax year/before April is, when will my contractor tax need to be paid? Would it be next financial year?

Many thanks

Presumably you mean that you are going self-employed. The short answer to your question is that the tax due on any profit that you make between now and 5th April would be payable on 31st January 2014. If you continue after 5th April it does get somewhat more complicated.

_Andy_

Not sure if counts as SE - I am contracted with this company for a year at a specific salary. But paid gross into account

nomunnofun

_Andy_ wrote: »

Not sure if counts as SE - I am contracted with this company for a year at a specific salary. But paid gross into account

This is slightly concerning in that

a) you are paid gross but
b) you are contracted with a company for a year and
c) at a specific SALARY.

One would want to know why your company is not paying your wages under PAYE.

_Andy_

Company is reg'd outside of UK

grey_gym_sock

but will your work for them be in UK? i think that's more relevant.

though if they'll be paying you directly, then the risk (that HMRC will decide it's a disguised contract of employment) is mainly theirs, not yours. unlike the scenario when you set up a company and they pay your company - then it's your risk.

_Andy_

I will work for them in the UK. Company has some contractors in UK, some in USA

hampsterpoo

Hi Andy I've tried PMings you but wont let me about the PM you left me , only just spotted it thanks , I would like you take your offer up.