Self employed starts a full-time job. What about the tax?

testuser26

I have been self employed since the beginning of the tax year (April) and I have now found a full-time job (starting in November).
I haven't met the tax-free allowance with my self employed earnings yet, having only earned around 6k since April.

My question is, how much tax will be deducted from my pay on monthly basis (if any)?

As of course I will doing my self assessment tax return for this year in January 2017, so until then they are not aware how much money I've earned now. So it may look as I haven't earned anything yet, and I've got the full tax-free amount available to use. However that's not the case... obviously.

I'd really appreciate if someone could explain me how that works, because it's a bit confusing.


Thanks in advance

Savvy_Sue

You'll be asked if you have a P45 - I presume you don't have one in the current tax year, so you need instead a New Starter Checklist.

If you put 'this is my only or main job' then you'll get the standard tax code of 1060, and your tax from employment will be correct: not much to pay to start with.

Carry on putting aside 20% for tax and a bit of National Insurance, and complete your tax return in January 2017. Pay the tax you owe for self-employment, job done.