Switching tax allowance

11/01/2018 08:45:20
10/01/2018 16:36:15
Hi, i used to be both - employed and self-employed and my tax allowance has been attached to my employment. However, since May, 2016 I'm only self-employed. Do I need to do anything in order to 'switch' my tax allowance to self-employment? Kind regards

Switching tax allowance

11/01/2018 11:46:17

You do not need to do anything, this will be automatically applied once you complete your tax return for that year.

For example, if you complete your return and your only income was from self-employment with a profit of £2000, then the calculation will show the Personal Allowance applied to this and no tax would be due.

Other information on the PA can be found here: https://www.gov.uk/income-tax-rates