P45

[Beckieboo]

Hi,
When i first started minding last June i informed and registered with the IR to declare i was self employed. Anyway i had a thought last night that i had received my P45 from my last employer, did i need to do anything with it or was registering with the IR all i had to do??

Hope that makes sense :panic:

[Tink]

The P45 comes from the IR so they will know your situation.

The P45 is only used if you were to go to another employer so they can work out your tax.

Just keep it in your records.

[Beckieboo]

Thanks for that, i wasnt sure!!:panic:

Doesnt take much though to confuse me!!!:laughing: :laughing:

[Zoomie]

No your P45 comes from your employer and it details what you have earned / paid tax for the current tax year.

After the new tax year starts (6 April) HMRC will send you an assessment. You will need to declare your earings as an employee (ie from your P45) as well as your SE earings and your total income will determine whether you need to pay any tax or not.

Debbie is the best one for this, but HTHs

[Chatterbox Childcare]

You have done everything.

When you finish the tax year you will need to complete both the employed and self employed sections.

[Beckieboo]

Thanks for the replies, i was having a panic that i had to do something with it!!!:)