Amy R

Hi i have a full time normal job and did a one of job last year for 20k as a side hustle Im doing my self assessment and i have a tax bill for the 23/24. However its predicting i'll get this again this tax year. So have to pay half of next years tax bill plus the 23/24 tax bill. then the second half in july. I will do no more side hustle work this year. Can i get the two predicted tax bills taken off? If i do get them taken off and i end up doing work (very very very unlikely). I will get a tax bill for 24/25 next year in 25/26, Will i have to pay interest as i kinda delayed the payment?

If the user is a 40% tax payer, they have to do self assessment to claim the 20% back from there sipp contribution no?

Ok i'll look at this

There must be a formula to get to that number? The £3690.79 I cant seem to work out how it came to this. I read some things since. Seems I could have put 80% of what i made into the Sipp and you top up then with the money left over i pay back the 20% you gave me? Is that correct? Also I have a full time job this was a one off job i was paid the £15910. Do i need to register as a business for one off work?

It was a one off payment, Do I need to register as a sole trader?

Hi is there a way to put all my freelance into my sipp in order to increase my pension contributions and avoid paying any tax at all on it? I make enough from my main job so the freelance work id love to have all in my Sipp Whats the best way to this?

Hi am I due ni? with this? I can't get the math right for £3690.79 either. Do you have a formula for it? I understand the last two numbers now as advanced payments. ty!

Hi wondering if anyone knows the best way to do this and does it themselves I got paid 10k in freelance and I have a normal paye job I read I could put all this into a sipp and pay no tax on it at all? I’m reading if I put it into a sipp I get a 20% relief though. That brings me to 12.5k in my sipp and I’m entitled to an extra 20% as I’m a higher rate tax payer. Is this right? I made 10k untaxed and now I’m 140% up? Is there a proper way to do this so I pay no tax on this at all while moving toward fire?

Im honestly struggling to understand this and hoping someone can explain. I have a full time job which I Salary sacrifice into a work place pension that leaves me in the 40% tax bracket. I also made £15,910 with a side hustle. The tax is fine for the PAYE job i believe. Its all paid, i have my P60. The £15910 from the side hustle, i was told i can be tax efficient with it as i don't need the money. I should put all into a SIPP and I'll get 25% tax relief free automatically + if i do a self assessment I can get 20% on top. I will owe no tax. The money is untaxed though. So really i shouldn't be getting the 25% top up and i shouldn't be getting 20% more on top with a self assessment right? I asked on the reddit and got an other version. If I made £15910 with a side hustle, I shouldn't get any tax relief and I have to pay NI if i put into a sipp. So i should put my side hustle, minus 20% into a sipp. Get 25% tax relief automatically and my sipp will now have £15910. With the 20% i have in cash, i pay that to hmrc as tax owed as they gave me the relief at source automatically within the sipp. Then the only tax left to pay is NI. So with this information i attemtped to fill in my self assessment and got this. None of the above adds up for me. Heres a screenshot it, The bit in blue is math and logics. Green is me understanding the section. Red is my confusion. Wonder if anyone can help? I feel i might be under paying tax with the assessment i linked above

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Hi wondering if anyone can shed some light on my confusion as I’m attempting this for the first time. I’ve got to the end of my tax assessment 23/24 and I’m at the tax calculation part and I’m a bit confused. - Basically I’m a 40% tax payer in full time work. I made 58772 last year - I do freelance on the side and made 15910 - I put all my freelance profit into my sipp, 15910 where I got 20% relief at source So I had to do a tax assessment to claim additional tax relief on the 15910. I’ve got to the end of my tax assessment and it says - I owe £3690.79 2023-24 balancing payment - 1st payment on account for 2024-25 due 31s Jan 2025 is 1800.50 - total to be added to self assessment account due by 31 January 2025 is £5491.20 Second payment on account for 2024-25 will be due by 31 July 2025 That’s a lot of tax I wasn’t expecting? I’ve already been taxed on my full time job. So was expecting no tax there Then all the profit I made from freelance I put into a sipp, so there so by no tax there too? Can anyone help?