Self assessment

Rp1891

Good morning,
I went part time self employed alongside my other employed part time job last year. So for my tax return only had the 3 months of self employed wages etc to put down. I put down my full years self employed wages, is this correct as I have now basically been charged £1200 for £3000 income. I know this is because my other wages take it over the threshold but I have already had tax deducted on those .
Any help would be appreciated.

00ec25

Rp1891 wrote: »

Good morning,
I went part time self employed alongside my other employed part time job last year. So for my tax return only had the 3 months of self employed wages etc to put down. I put down my full years self employed wages, is this correct as I have now basically been charged £1200 for £3000 income. I know this is because my other wages take it over the threshold but I have already had tax deducted on those .
Any help would be appreciated.

go back and fill out the return correctly?

you have 2 sources of income:
a) employment - for which you will have a P60 showing tax paid and income to be declared
and
b) self employment

you will be charged tax of a) + b) - tax already paid

have you shown the correct figures on the correct pages?

martindow

As OOec25 says you seem to have put in an incorrect figure for your income which you can go back to correct. It should just be what you earned up to 5th April.


Did you have any valid costs or expenses in this self-employment? If so these should be deducted from the money received so you declare your profit. From the OP it sounds as if you may have entered the gross income in the return.

Rp1891

So I put my employed wage up for the same amount of time as the self employed wage? Not the entire tax year? Iv been in the employed job for 4 years and self employment for 4 months for this years return. I hope this makes sense! I have put down the valid expenses for the self employment but only materials (artist) many thanks for your help

00ec25

Rp1891 wrote: »

So I put my employed wage up for the same amount of time as the self employed wage? Not the entire tax year? Iv been in the employed job for 4 years and self employment for 4 months for this years return. I hope this makes sense! I have put down the valid expenses for the self employment but only materials (artist) many thanks for your help

good grief, is this the first time you have done a tax return?
Do you not read helpsheets before starting something new?
https://www.gov.uk/self-assessment-forms-and-helpsheets

you declare your all income for the tax year.
That is what a P60 is all about, it gives you the info you need to do the employment pages.
The self employments pages are down to you to work out yourself obviously.

Rp1891

Yes it is the first time, as I have said I have only got the 4 months self employed wages for this return. I have put the p60 figure down and the self employed earnings down as stated correctly, and checked countless times and this is the number it is coming out with.

JCS1

It looks like 40% tax on your self employment, were you a higher rate tax payer when employed? Did you earn more than the threshold during the tax year?

Rp1891

That’s what I am confused about as it was only a part time wages of 13800 a year but must put me just over the threshold I imagine?

Rp1891

Thank you for your responses, I’m not sure what went wrong with it all but hmrc have refunded me 1710 today. I didn’t change any information so I am not sure what did cause it to be so high but I’m glad it is hopefully resolved anyway. Thanks for your help