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Carol Myerscough
June 29, 2020
Question

Employed to Self Employed, calculating tax

  • June 29, 2020
  • 1 reply
  • 0 views

Hi All, I have been made redundant from my PAYE job as of June 30th and have been self employed since May 1st. How do I add the tax I have already paid in my employed job to QB Self employed so it calculates correctly, for me this bit is confusing! 

thanks 

1 reply

MaryLurleenM
MaryLurleenM
June 29, 2020

Hello there, Carol Myerscough,

 

You can add your PAYE employment transaction on the Tax profile. The tax profile lets you enter the other income you have aside from self-employed income. You can add it under estimated employment income.

 

Here's how:

  1. On your QuickBooks Self-Employed account, click the Gear icon.
  2. Under Taxes, click Tax profile.
  3. Enter the gross amount on the Estimated employment income box.
  4. Click Save.

This is how it should look like:

 

 

To learn more about self-employed taxes, you can check these articles to learn more: 

I'll be here if you have other questions.

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