As you’re self-employed, you won’t get a payslip. So you’ll have to be careful about your tax code on your other job.
Usually, the job paying you the most should be classed as your main job.
However, if your second job is self-employed you might not know exactly how much you’re earning. This makes it potentially difficult to make sure your full Personal Allowance is being taken.
If both jobs are paying you below the Personal Allowance, you’re still entitled to split your allowance between them.
If one of your jobs is self-employed, you’ll pay tax and National Insurance contributions a year in arrears.
For example, for the money you earned in the 2022/23 tax year, you’ll need to pay the outstanding tax and National Insurance contributions by 31 January 2024.
This means it’s important you think about how you’ll pay what could be a substantial bill. The good news is, you should have an idea about how much tax you’ll owe at the end of the previous tax year. This gives you nine months to prepare.