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DQueenK
January 7, 2022
Question

Change my tax code

  • January 7, 2022
  • 1 reply
  • 0 views

I use Quick books as a sole trader for my part time job. 

I also have a full time job employf elsewhere. So - Quickbooks doesn't calculate my expected tax well because it doesn't take into account my other earnings. 

How can I change my tax code within Quickbooks so that it stops keeping the first £11k tax free? 

1 reply

C
CharleneMaeF
January 8, 2022

I know it's important to ensure your taxes are calculated accurately, DQueenK. I'm here to help you sort this out.

 

QuickBooks Self-Employed is designed to track your self-employment income and expense. Therefore, this version of QuickBooks is unable to change tax code. Although you can enter your other earnings on the Tax Profile page.

 

Here's how:

 

  1. Click the Gear icon at the top.
  2. Under Taxes, choose Tax profile.
  3. Go to the Estimated employment income field and enter your other earnings.
  4. Click the Save button.

 

Additionally, I've included these articles that'll help you learn more about the calculation of self-employment taxes

 

 

I'm only a few clicks away if you need assistance with your other QuickBooks tasks, DQueenK. It's always my pleasure to help you out again.

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