Employment Income on a self assessment tax return
andy_the_pirate
Registered Posts: 8
in Tax
Hi all,
Probably a very basic question to most, but it's not in my area of expertise, so could do with some help.......
I've been asked by a friend about her partners tax return. She is currently self employed but from February will be taking on some work as an employee, and wants to know when the income should appear on her tax return. My instinct is that the P60 she would receive at the end of the tax year would be declared on the return in January next year. Is this correct?
Regards,
Andy
Probably a very basic question to most, but it's not in my area of expertise, so could do with some help.......
I've been asked by a friend about her partners tax return. She is currently self employed but from February will be taking on some work as an employee, and wants to know when the income should appear on her tax return. My instinct is that the P60 she would receive at the end of the tax year would be declared on the return in January next year. Is this correct?
Regards,
Andy
0
Comments
-
Hi Andy,
When she fills out the return for 15-16 she will need to declare her employee income on it. When she goes to fill it in there will be check boxes so she would just fill in with the details from the P60. That way it will ensure she's paying the right amount of tax as her tax free allowance will proboably be used up with the PAYE pay.www.essencebookkeeping.co.uk0 -
Thanks, it seemed like such a simple thing, I thought it was going to trip me up!0
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