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Employed and self employed at same time
DoctorStrange
Posts: 395 Forumite
in Cutting tax
If someone is employed full time and is a HR taxpayer, and they also do a little self employed work on the side, can they still use the £1k trading allowance?
So if £60k is earned through employment and taxes collected via PAYE, if they earned £1k on the side as a sole trader is that tax free or added to the £60k to give a total taxable income of £61k?
I thought it was tax free but someone has said to me that's only applicable if there's no other income so just looking to double check
So if £60k is earned through employment and taxes collected via PAYE, if they earned £1k on the side as a sole trader is that tax free or added to the £60k to give a total taxable income of £61k?
I thought it was tax free but someone has said to me that's only applicable if there's no other income so just looking to double check
0
Comments
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You can still use the allowance. There is no condition saying “no other income”. If the self employment income happens to be from your employer, that’s an issue.0
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Great, thank you0
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