Paying tax on one-off freelance income

greenchicken

Hello, hope this is the right forum.

I have always worked on PAYE jobs so have never had to file a tax return. However last year, between ending one job and starting another, I did some freelance work for which I was paid £1950. I registered as self employed on the HMRC website, but am now back working in a full-time job and pay tax via PAYE.

Is there any way I can just pay off the relevant tax on that £1950 now/soon, or do I need to wait a year for the next tax return? Will I have to do a full tax return just because of that one payment? I've never had to do it before so am bad at keeping records, so am dreading having to do it because of one payment.

Any advice much appreciated.

morgani

It depends when this freelance work was as to when you will need to do a tax return.

if it was prior to 5 april 2013 then you will need to complete a tax return before 31 january. If it was after 5 april 2013 then you need to wait until the end of the current tax year (5 april 2014).

The tax return will need contain your various earnings. So your total employment income from your two jobs (p45 from the one and p45/p60 from the other). You will also need to fill out the self-employment pages with your freelance income and expenses. Then you also need to include any other taxable income (bank interest, dividends etc) and any tax reliefs (gift aid payments, private pension contributions).

This should all be possible yourself but an alternative is to appoint an accountant.

greenchicken

Thanks, it was in June so would be next tax year. But I wondered if there is a simpler way to pay tax on the one-off payment than having to do a full tax return/self assessment.

xylophone

June so would be next tax year.

June 2013? So tax year April 6 2013-April 5 2014 (ie current tax year)?

Give HMRC a ring?

greenchicken

Sorry yes, current tax year, so would be next January doing the tax return.

I think I will, just put off as the last time I called them it took about an hour to get through!

jimmo

greenchicken wrote: »

just put off as the last time I called them it took about an hour to get through!

Try phoning at 8.00 am. It seems to work for a lot of people on here.