Being Full Time Employed and Self Employed
MarkD1990
Posts: 7 Forumite
Hi all, I know this has been posted quite a lot, but each circumstances are different and I want an answer to my own circumstance.
I currently work full time (38 hours) and I want to start my own business. Now I want to know how would it affect my tax. Does it work like if you would have a second job? Or would running my own business affect my tax on my full time job?
Thank you in advance, and any help is widely appreciated.
Mark
I currently work full time (38 hours) and I want to start my own business. Now I want to know how would it affect my tax. Does it work like if you would have a second job? Or would running my own business affect my tax on my full time job?
Thank you in advance, and any help is widely appreciated.
Mark
0
Comments
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as you say this has been answered many times before and your circumstances are identical to those
what do you think you mean by "affect your tax on your job"
employment income + self employment profits = total income
total income - personal allowance = taxable income
taxable income x tax rate = tax payable
tax payable - tax paid under PAYE on employment job = tax still left to pay on annual tax return0 -
as you say this has been answered many times before and your circumstances are identical to those
what do you think you mean by "affect your tax on your job"
employment income + self employment profits = total income
total income - personal allowance = taxable income
taxable income x tax rate = tax payable
tax payable - tax paid under PAYE on employment job = tax still left to pay on tax return0
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