Combining self employment with an "employed" part time job, and an occupational pension

lindabelle66

Hi  everyone, im considering a small amount of work via an agency on a self employed basis.  I would be responsible for my own tax/ NI etc.  I already have a part time job where i am taxed at BR and pay NI etc, and in addition to that i have a small occupational pension that i pay tax on.

How difficult / messy etc is the paperwork going to be for my self employed position please?

Im trying to decide if its actually going to be worth doing, with the long term goal of leaving my employed job.  Any comments / opinions gratefully received, thanks.  

DE_612183

I'm the same - I let the "employed" and "pension" work out the tax codes and do a self assessment at the end of the year - is your self employment via an umbrella company / limited company ?

Marcon

lindabelle66 said:

Hi  everyone, im considering a small amount of work via an agency on a self employed basis.  I would be responsible for my own tax/ NI etc.  I already have a part time job where i am taxed at BR and pay NI etc, and in addition to that i have a small occupational pension that i pay tax on.

How difficult / messy etc is the paperwork going to be for my self employed position please?

Im trying to decide if its actually going to be worth doing, with the long term goal of leaving my employed job.  Any comments / opinions gratefully received, thanks.  

Not messy or difficult enough to be a deciding factor! A simple spreadsheet may well be all you need to keep records of income and expenditure. See https://www.gov.uk/simpler-income-tax-simplified-expenses

How much are you going to earn on a self employed basis? If your turnover (not profit) is under £1,000 a year you don't even need to register as self employed or declare it from an HMRC perspective. The agency may require you to show proof of being registered as self employed, depending on how things are structured (ie are you being employed directly or through an intermediary such as your own limited company).