HMRC ONLINE TAX

Gerber1

Hey folks. I am a sole trader and have recently started full time employment. Since new job i have ceased trading. I am about to apply for credit. My question is, is the total tax i will pay itemised between both, or is each one listed seprately with HMRC? I have been told that all tax paid is against the individuals name and not different occupations. Thank you in advance

Marcon

Gerber1 said:

Hey folks. I am a sole trader and have recently started full time employment. Since new job i have ceased trading. I am about to apply for credit. My question is, is the total tax i will pay itemised between both, or is each one listed seprately with HMRC? I have been told that all tax paid is against the individuals name and not different occupations. Thank you in advance

Not quite sure what you mean by 'itemised'. Your accounts as a sole trader might be what you have in mind to support your application for credit, plus confirmation from your employer of your new job/salary?

Do you have a personal tax account? If not, setting one up might help: https://www.gov.uk/personal-tax-account

Gerber1

Marcon said:

Gerber1 said:

Hey folks. I am a sole trader and have recently started full time employment. Since new job i have ceased trading. I am about to apply for credit. My question is, is the total tax i will pay itemised between both, or is each one listed seprately with HMRC? I have been told that all tax paid is against the individuals name and not different occupations. Thank you in advance

Not quite sure what you mean by 'itemised'. Your accounts as a sole trader might be what you have in mind to support your application for credit, plus confirmation from your employer of your new job/salary?

Do you have a personal tax account? If not, setting one up might help: https://www.gov.uk/personal-tax-account

Hi. What i mean is will tax paid from both revenue streams be listed separately, or is it just the total amount of tax owed?  Cheers

anmarj

when you do your tax return you will be able to add any paid employment paid during the tax year, along with tax paid on that, then HMRC look at both the self employment and paid employment and will calculate if you are due tax or due a tax refund.

Dazed_and_C0nfused

Gerber1 said:

Marcon said:

Gerber1 said:

Hey folks. I am a sole trader and have recently started full time employment. Since new job i have ceased trading. I am about to apply for credit. My question is, is the total tax i will pay itemised between both, or is each one listed seprately with HMRC? I have been told that all tax paid is against the individuals name and not different occupations. Thank you in advance

Not quite sure what you mean by 'itemised'. Your accounts as a sole trader might be what you have in mind to support your application for credit, plus confirmation from your employer of your new job/salary?

Do you have a personal tax account? If not, setting one up might help: https://www.gov.uk/personal-tax-account

Hi. What i mean is will tax paid from both revenue streams be listed separately, or is it just the total amount of tax owed?  Cheers

They will be listed separately within your Self Assessment calculation (SA302).

If PAYE tax has been deducted during the year you include details of that along with your earnings.