Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
I'm seeing a discrepancy between my tax owed between my online self-assessment and Quickbooks.
I am both self-employed and employed. I've entered my income from my employer into my Tax Profile but it doesn't seem to have any affect on my tax estimate, Quickbooks states £0 for Tax and Class 2 NIC.
But when submitting my online self assessment it states I do required to pay tax. My income through self-employment alone is low enough not to pay tax, but with my employed income it is.
I've read multiple forum posts about entering employed income into the Tax Profile, but I think I must be missing something because it seems the Tax estimate is wrong?
Welcome to the QuickBooks Community, @iansmithartist.
Let's first check the info you entered on your Tax Profile. Verify that you input your business income, allowable expenses, and tax code correctly. Here's how:
You can also reach out to our Customer Care team to further help you with your estimated tax. They can pull up your account in a secure place and thoroughly review your setup.
Then, QBSE used Schedule C in recording your income and expenses. To know more, check out this link: Custom categories in QuickBooks Self-Employed.
I'm always around if you have additional questions about your estimated taxes. Feel free to leave a reply below. Have a good one.
I have the same issue, the tax profile appears to double count your tax free allowance as a single or married person. If you remove the allowance or set it to zero it works properly.
You have clicked a link to a site outside of the QuickBooks or ProFile Communities. By clicking "Continue", you will leave the community and be taken to that site instead.