Hi,
I am considering registering as Self Employed. I had a PAYE contract recently, so all tax was paid for me etc. The contract began more than three months ago and finished last month.
If, when I register as S.E., I backdate the start of the S.E. status so that it occurs in the period when I was PAYE - what are the implications for the tax status I had during that PAYE contract?
Will I be issued with a backdated Tax Code, and will I be able to claim back expenses I paid during that period? I understand that one can work PAYE simultaneously as being Self Employed - and possess two separate Tax Codes for this reason....
Are there any problems I would come up against if I do this - is it adviseable?
Regards,
H