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Im currently self employed and am starting a new employed job in a couple of weeks.
Government college university lahore admission 2020 undergraduate programs. I know i can be registered as self employed and at the same time be an employee but is there any chance my new employer could find out for example through a change in tax code. Registering as self employed and employed at the same time if you want to run your own business then youll be responsible for declaring and paying your own tax. So that is all the relevant information there is to know about being employed and self employed at the same time.
For people who are genuinely self employed then this is absolutely fine. While there are many positives to being self employed such as choosing your own hours full or part time shortening or completely avoiding your commute focusing on career objectives that matter most to you being able to work remotely and tax deductions one of the downfalls is that benefits usually included in salaried work must be paid for out of pocket. Employed and self employed.
Calculate the tax implications of being both employed and self employed using the latest tax information from the tax year 2020 2021as well as having deductions made by your employer through paye you will have to tell hmrc about your self employed income and you may have to make additional tax and national insurance contributions. If you need any further help then please feel free to view our wide range of advice blogs here httpszloggcoukblog or contact us directly if you have any further questions. As such youll need to register with hm revenue customs.
Yes definitely you can be employed and self employed at the same time it just means some of your income is taxed at source through paye and some will need to be declared on a self assessment tax return by you. Can i be employed and self employed at the same time. This would usually be the case if you were doing two jobs.
To avoid overpaying tax and national insurance you must plan ahead so it might be useful to ask an accountant to work it all out with you. For example if you work for yourself as a hairdresser during the day but in the evenings you work as a receptionist in a hotel you will be both self employed and employed. You can be employed and self employed at the same time.
I still intend to do self employed work though in evenings and weekends. That means if a company can take people on who are self employed basis rather than employed they avoid a lot of obligations.
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