I have access to Quickbooks Self Employed and am using it for my sales and expenses. However when I run the Tax Summary it does not show a figure for Income Tax at the bottom. I don't understand why as I have input my employment income into my Tax Profile for the correct year but it is not working out income tax (it does work out Class 2) Please can someone help as I haven't been able to find anything about this on the discussion boards so am I missing something?
Hello Kat, In order to look into why it is not calculating an income tax figure for you can we ask have you used the personal allowance amount on a separate PAYE income or is the Self Employed business your only business, did you amount that figure in the tax profile and what date did you enter as starting Self Employed in the tax profile
Hello Kat, If the employed job is more than the allowance can you change the amount in the tax-free allowance box to 0, you should then see income tax appear.
Okay so I've changed it to 0 as suggested and it now shows a figure but that figure is wrong. I've used employment & Self assessment calculators online and the figure is very different. I've also calculated it manually and its different so what is QB SE doing?
Please can you reach out to us on either Twitter or Facebook and send us a DM/PM with the email address linked to your account so we can look into this more for you. The calculations in Quickbooks Self-Employed goes off the information that you have inputted into the system. When you reach out to us on either twitter or Facebook can you also let us know what figures you are using to do the manual calculations so we can look into it more for you.
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