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July 13, 2022
Question

Self employed tax summary

  • July 13, 2022
  • 1 reply
  • 0 views

Hi

I am trying to make my Income Tax summary page show my full tax position.

I have income from self employed work and I also have income from employment pensions. At the moment the tax summary doesn't include the pension income because I don't know how to record it. 

Can anyone tell me what type of transaction I need to use record my monthly pension income (on top of my busines income from the work that I do) so that the summary shows my full tax liability?

Any help much appreciated.

Thanks

Ian

1 reply

July 13, 2022

Hi Iandavidhunter Thanks for reaching out to us here on the Community. Your monthly pension income can be recorded on the SA100 form in the 'UK pensions, annuities and other state benefits received' section (8-16). The QuickBooks self employed account is a template of the SA103F boxes 15-47 and the tax profile is only an estimate as it doesn't include any income that's recorded on any other SA forms. Please note that we're not accountants and we recommend that any advise that we provide should be qualified by a professional.