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simonhewitt
Level 1

UK sole trader QB online account. I have employed income as well as my self-employed income. Can I add my employed income so QB will correctly calculate tax and NI?

I want QB (Sole Trader online - UK) to be able to correctly calculate the Income Tax and NICs for my self-employed income. I have a salary from another employed role which has PAYE already deducted. Can I enter my gross annual salary in QB anywhere so It will take account of this and apply the correct rates for Income Tax and NI?

1 REPLY 1
Joemar_B
QuickBooks Team

UK sole trader QB online account. I have employed income as well as my self-employed income. Can I add my employed income so QB will correctly calculate tax and NI?

Glad to have you here, Simon.

 

Currently, QuickBooks Online for Sole Traders (UK) is designed to calculate tax and NICs for your self-employed income only. Your employed income has already been taxed by your employer through PAYE system.

 

It's also worth noting that you don’t need QuickBooks to combine these calculations. HMRC will calculate your overall tax and NIC liability based on your total income (employed + self-employed) when you file your Self Assessment tax return.

 

Moving forward, for a full calculation that includes your PAYE salary and NICs. You can consult your AC to help ensure PAYE income and any reliefs or allowances are handled correctly.

 

Here's a link for additi0nal information about income tax: Understanding Income Tax in QuickBooks.

 

If you have any additional questions, please don’t hesitate to reach out. We're always here to assist you.

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