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Hi Sam, I'm now working for a PAYE big multinational company

Customer Question

Hi Sam,
I'm now working for a PAYE big multinational company and recently I've started to provide some consultancy services for a US company. I don't have a company set up on my own and was wondering if it's enough to declare the extra income I make from consultancy when doing self assessment to HMRC?. I have to mention that I currently do self assessment even if my current PAYE employer is paying my taxes because I was relocated to the UK 4 years ago and had some extra benefits due to relocation at the beginning.
Many thanks
Silviu
Submitted: 2 years ago.
Category: Tax
Expert:  bigduckontax replied 2 years ago.
Hello Silviu, I'm Keith and happy to help you with your question.
You should inform your tax office, their address can be found on the self assessment form they sent you, that you are undertaking self employment as well as working under PAYE. HMRC will then send you a self assessment form annually. Of course they are already doing that so just declare the income on your form. Telling them is a 'belt and braces' position on your part. They need to know as your National Insurance contributions may need adjusting.
I do hope I have put your mind at rest on this matter.
Customer: replied 2 years ago.

Hi Keith,

Thanks for your response,

Can you please explain what belt and braces actually means and how will that help me when doing the self assesment?

Thanks

Expert:  bigduckontax replied 2 years ago.
I am merely suggesting that your contacting HMRC to tell them you are doing some self employment work, which they will know anyway when they receive you self assessment form for processing covers you for informing them officially of your activities. The term 'belt and braces' is an English term for making sure that all aspects of a problem are covered, sometimes more than once.
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bigduckontax, Accountant
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Expert:  bigduckontax replied 2 years ago.
Thank your for your support.

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