Can I claim expenses from self employed income against PAYE?
I have recently registered as self employed and will have minus £700 earnings for 12/13. This is due to no income yet but set up costs. (I am sure that everything I have noted as an expense is allowed)
I am also employed and have paid PAYE all year through my wages.
My question is: When I am filing my self assesment I will quote my earnings and tax already paid... this will create an over payment of £700 (I think, assuming that i have been taxed corretcly throughout the year, although obvoiusly I havent had my P60 just yet)
I have been advised that this means I can claim that amount back... but now someone has told me today that you can't claim expenses off of PAYE earnings..? Who is right?