Tax for 1 month

[Cath3110]

Please can someone help me.
I started childminding 1st March 2010 and need to submit my accounts for that month.
I was in full time employment before that and paid all my tax etc.
Is my gross income for 2010 just the self empoyment amount or is it both amounts??
I have confused myself!!!!
Thanks

[manjay]

Please can someone help me.
I started childminding 1st March 2010 and need to submit my accounts for that month.
I was in full time employment before that and paid all my tax etc.
Is my gross income for 2010 just the self empoyment amount or is it both amounts??
I have confused myself!!!!
Thanks

There should be 2 seperate parts on your self assessment. One for employed income and one for self employed.

[felicity952]

Manjay is right. There will be a section to put your self-employed income in and one for your employed income. If you have your last payslip it should have your total income for the tax year from your employed income.
I started minding part way through the year after being employed and remember completing both sections. I think I had to pay an extra £8 in tax & NI

[Cath3110]

Thank you.

[MaryMary]

Don't forget your start-up costs for your first month, so on paper you shoild have a loss. That may effect the amount of tax you have already paid, so you might even get something back

[Chatterbox Childcare]

You will make a loss this year but that is fine. Put as much down as you can and then it can be used next year to reduce your profit