self employed and employed

cardiff

Hi All

Just looking for a bit of advice, I have just taken on a job as a contractor I will be working 16 hours a week and earning £18 an hour, I also work as an employed member of staff for 2 other companies £11 an hour for 4 hours a week and another company 25 hours a week at £12.76 an hour, my question is what is the easiest way for me to pay my tax on my contractor job? Is it easy to do a self assesment? Do I pay NI on my contractor job as I am already paying it on my 25 hour a week job?
Can I claim expenses on a contactor job ie travelling to work, buying a new computer/printer to use for work use. I really have no idea!

Would really appreciate any help thanks in advance

System

You do it through self assessment. You will pay some NI on the contractors job and it will be calculated for you how much tax and NI you owe when you do the self assessment online.

It is easy to do the self assessment, you'll fill in two of the section for PAYE employment, one for each employer putting in their details, PAYE code, the amount of taxable pay and the amount of income tax paid, and then fill in the section for self employment.

The difficulty tends to come in figuring out what are tax deductible expenses you can use to offset against that income but there are plenty of guides online and I know HMRC used to run basic courses via local Business Links.

jobbingmusician

If you have a look at the 'up your income' board, there is a mystery shopping thread. The first post in that thread tells you quite a lot about self employment. Yes, the HMRC stuff is useful, but sometimes it's helpful just to have posts from ordinary people telling you what to do.

A few helpful hints:

If you are just starting out now, your tax year will probably end on 31.3.19. Your first online self assessment return deadline is 31.1.20, although it's a good idea to submit well before then.

If you are planning to do an online return, you will need to contact HMRC to get a login and password. These can take 2 weeks to arrive, so it's useful to do this ASAP so you have them. I find it very helpful to email my login to myself and keep that email in a special folder called tax (in my emails). This may not be the most secure of storage, but it does mean that whatever computer I am on, I can get hold of my login details. (BY THE WAY..... you have to type your password in on the HMRC site. You can't copy and paste it. This info alone might save you a panic attack!)

Dox

cardiff wrote: »

Hi All

Just looking for a bit of advice, I have just taken on a job as a contractor I will be working 16 hours a week and earning £18 an hour, I also work as an employed member of staff for 2 other companies £11 an hour for 4 hours a week and another company 25 hours a week at £12.76 an hour, my question is what is the easiest way for me to pay my tax on my contractor job?There is only one way: self assessment tax returnIs it easy to do a self assesment? Do I pay NI on my contractor job as I am already paying it on my 25 hour a week job?
Can I claim expenses on a contactor job ie travelling to worknot if it's your regular commute/place of work during the duration of the contract, buying a new computer/printer to use for work use. I really have no idea! Might be an idea to find out, possibly getting some proper (paid for) advice, to ensure you don't fall foul of quite complex tax rules. Are you sure you are self-employed for this particular role - have you checked if you meet the relevant criteria?

Would really appreciate any help thanks in advance

Have a look at https://www.gov.uk/browse/business which should help with all the above.