HELP self employed tax!!!

Dako77

I have being self employed as a sole trader for 6 months and have no work so im now contemplating stopping self employment and just becoming employed.

My earnings in this last 6 months has being around £6500 and I'm wondering if I have to pay tax on that in April?

Any help and advice would be appreciated!!

jgh

Dako77 wrote: »

My earnings in this last 6 months has being around £6500 and I'm wondering if I have to pay tax on that in April?

Single Person's Allowance is £9440 this year, so there's unlikely to be any income tax to pay on £6500 unless you have more than £3000 income from other sources.

agrinnall

Whether you have to pay tax on your earning so far depend on the total that you earn from all employment and most other sources during the year. If that's more than £10K then it really depends on whether you've been taxed on your other income. As it is I think you'll need to do a tax return by January 2016 anyway because of your SE earnings so you'll find out if you owe anything then. The good news is that you won't have to pay it as early as next April, and there's a good chance that it will be taken by adjusting your 2016-7 tax code.