Entering P45 info into Self Employed Accounts

Alan Clifford · ‎January 26, 2022

After being made redundant i received a P45 and went self employed. I believe i have everything entered for my self employed time but cannot see where i enter the pay and tax from the P45 to be able to make tax return.

AlexV · ‎January 26, 2022

Hi Alan Clifford!

Welcome to QuickBooks Community. Let me assist you in adding P45.

You can update your tax profile and add it from there. Go to the Gear icon and select Tax Profile. You have a set allowance and in the personal allowance section you would need to adjust that amount to how much allowance you have left or if that personal allowance amount is less than your PAYE you would need to adjust it to zero. This will mean your Tax is then calculated based on the allowance you have used.

Check this article to ensure correct calculation of your self-employment taxes: QuickBooks Self-Employed UK Tax Profile Set Up.

Also, you can refer to this article in filing your taxes: Year-end Taxes.

I'm right here if you need additional help. Just let us know by commenting below. Take care always.

View solution in original post

AlexV · ‎January 26, 2022

Hi Alan Clifford!

Welcome to QuickBooks Community. Let me assist you in adding P45.

You can update your tax profile and add it from there. Go to the Gear icon and select Tax Profile. You have a set allowance and in the personal allowance section you would need to adjust that amount to how much allowance you have left or if that personal allowance amount is less than your PAYE you would need to adjust it to zero. This will mean your Tax is then calculated based on the allowance you have used.

Check this article to ensure correct calculation of your self-employment taxes: QuickBooks Self-Employed UK Tax Profile Set Up.

Also, you can refer to this article in filing your taxes: Year-end Taxes.

I'm right here if you need additional help. Just let us know by commenting below. Take care always.

Alan Clifford · ‎January 30, 2022

Hi, Sorry I'm a bit confused, I asked where i input my P45 information and you gave me link to got to my Tax profile where there is nowhere to enter how much i had earned, how much tax i had paid nor how much NI I had paid before going self employed.

Angelyn_T · ‎January 30, 2022

I appreciate you for getting back, Alan. We have edited the above answer to give a clearer picture on how to enter the PAYE in Self Employed so it will account for that when working out income tax for your Self Employed business in Quickbooks

If you have any other questions, let me know by adding a comment below. I'm more than happy to help. Have a good one!

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Entering P45 info into Self Employed Accounts