Self Employed to PAYE (but keeping my SE company open) advice

WSforever

I've been working as self employed between March - May 2021 (so across 2 x tax years). However I have now taken a new full time position as PAYE.
I intend to keep my freelance/self employed company open as a sideline option whilst I work full-time.
Do I need to tell HMRC about my change in status or not?
Any advice appreciated as ever.

Dazed_and_C0nfused

You seem confused.

I intend to keep my freelance/self employed company open as a sideline option whilst I work full-time.

Are you self employed or the director of a company??

Marcon

WSforever said:

I've been working as self employed between March - May 2021 (so across 2 x tax years). However I have now taken a new full time position as PAYE.
I intend to keep my freelance/self employed company open as a sideline option whilst I work full-time.
Do I need to tell HMRC about my change in status or not?
Any advice appreciated as ever.

You're either self employed, or working via your limited company as an employee of that limited company (or just possibly a director getting a director's fee but not working as an employee - be most unusual to do so, since that would remove the advantages of working via a limited company in terms of limiting liability).

Unless your own limited company is about to issue you with a P45, you don't need to do anything except fill in a new starter from when you join your new employer.

WSforever

Sorry let me explain I've been working freelance so I set myself up as self employed.
But I have now joined a totally different company on PAYE but I intend to keep my other freelance business open as a possible additional income.

Dazed_and_C0nfused

Then just complete the new starter form with your new employer.

You will end up on the emergency tax code (1257L) which means you have to earn more than £1,048/month before any tax is deducted.

Remember when you complete your Self Assessment returns you declare all taxable income.  And any tax deducted.

Sandtree

HMRC doesnt need to be informed, you just need to tick the right box on the Starter Checklist (similar to the old P46) for your PAYE work.

When doing the self assessment you just fill in both the employee and self employed sections... the P60 will give most the details you need for the employee section.