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pracuje na pelen etat w firmie
However, this allowance is already taken into account if you work part-time or full-time and you are paying tax using the PAYE scheme (when money is automatically deducted from your pay packet). So, unless your salary is under £6,475 a year, this means that you have already used up your personal allowance and therefore you should be paying tax on any extra money you make on top of your salary
However, this allowance is already taken into account if you work part-time or full-time and you are paying tax using the PAYE scheme (when money is automatically deducted from your pay packet).
How to pay tax on extra income
You may be able to choose how you pay tax on any extra income you receive - either through PAYE throughout the following tax year or through Self Assessment by way of an additional payment.
If you're an employee or a pensioner and you want to pay tax on some of your non-employment income - like investment and rental income - through PAYE rather than by Self Assessment you can ask HMRC to collect it this way. You can do this for up to £2,500 of extra income in a year. If you earn more than £2,500 from savings, investments or rental income you'll need to fill in a tax return.
If you don't want to pay tax on your non-employment income through PAYE, you can ask HMRC to stop collecting it this way. You'll pay through Self Assessment instead. If you want to do this you can register for Self Assessment by completing the form SA1 Registering for Self Assessment and getting a tax return (if you're not already registered).
Being both employed and self-employed
It's possible to be both employed and self-employed at the same time. Many people work for an employer and also run their own business. They might do things like:
•work in a shop during the day and run their own Internet business in the evenings
•work as a lecturer at a college as well as doing freelance writing and consultancy
Paying Income Tax and National Insurance contributions on both jobs
If you earn income from both employment and self-employment then you pay any Income Tax and National Insurance contributions due separately and in different ways.
The total amount of tax and National Insurance contributions you pay is based on:
•your combined income from both jobs - or all your jobs if you have more than two
•any allowances and reliefs you get
How your overall tax and National Insurance is worked out
HMRC uses the information on your tax return about your employment and self-employment income to work out your tax and National Insurance.
Example
Louise works for a plumbing firm and earned £18,000 from this employment in the tax year 2010-2011. Her employer deducted tax and Class 1 National Insurance contributions from her pay through PAYE.
She also worked as a self-employed plumber in the evenings and at weekends. Her profits from self-employment were £7,000 for the tax year.
Louise paid Income Tax of £2,305 on her employment earnings. Her personal tax-free allowance for the year was £6,475, so she paid tax at 20% on £11,525 (£18,000 - £6,475 = £11,525), which is £2,305.
She paid Class 1 National Insurance contributions of £1,351.35 on her employment earnings. The 'earnings threshold' for paying Class 1 National Insurance is £5,715, so she paid 11% on £12,285 (£18,000 - £5,715 = £12,285), which is £1351.35.
She paid Class 2 National Insurance contributions as a self-employed earner at the flat rate of £2.40 a week. 52 weeks at £2.40 a week is £124.80.
She has to pay £1,400 in Income Tax on her profits from self-employment. Her tax-free personal allowance was used up when working out the tax on her employment earnings, so all her profits (£7,000) are taxed at 20%.
She has to pay Class 4 National Insurance contributions of £102.80 on her profits from self-employment. The 'lower profits limit' for paying Class 4 National Insurance is £5,715, so she has to pay 8% on £1,285 (£7,000 - £5,715 = £1,285), which is £102.80.
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