Supplement income with online work

thejinkazama

Hello,

I am a Scottish taxpayer through PAYE. If I were to take some online work in addition to this, earn more than the £1000 permitted extra and submit a self assessment return, what percentage of my additional earnings would be taxed?

Would doing this have any impact on my PAYE earnings, tax rate, likelihood to be accepted for mortgage borrowing etc.?

Thanks 

chrisbur

The total tax due would be calculated on the total taxable income that you had for example your PAYE job profit declared on self assessment taxable savings etc .  From that would be deducted the tax you had already paid through PAYE and that would be the tax you would have to pay.  You could up to a certain amount pay that through your tax code so adjusting the PAYE you pay in employment or you could just pay HMRC and so no change to your PAYE position due to you extra job.  What percentage this additional tax would be will depend on your total taxable income.