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July 25, 2022
Question

Self Employed - not calculating tax

  • July 25, 2022
  • 1 reply
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Hello, my tax liability is showing £nil - I have kept my personal allowance in tax profile but it is not taking into consideration my employment income, which I have entered. Employment income would have used all my allowance, why is it not calculating tax? 

1 reply

July 25, 2022

Thanks for checking in with us, @Amorrison3.

 

Let's make sure we add your PAYE employment transaction to the Tax profile and add your estimated employment income. The tax profile lets you enter the other income you have, aside from self-employed income to calculate taxes.

 

Also, let's ensure to categorize your transactions correctly so you'll have accurate estimated taxes. You can refer to the How QuickBooks Self-Employed calculates tax payments article for more insights. To review the PAYE amount entered in your Tax Profile settings, follow the steps below:

 

  1. Click the Gear icon.
  2. Select Tax Profile under Taxes.
  3. Go to the Estimated employment income field and check your PAYE earnings.
  4. Press Save.

To accurately calculate SA with a PAYE income, I'd recommend consulting with your tax adviser so you'll be guided about this one in selecting the proper categories for your transactions and earnings. For more details about self-employed taxes, check these articles:

 

 

I'd like to know how you get on after trying the steps. I want to ensure this is resolved for you. Feel free to reply to this post and I'll get back to you. Stay safe and well.