Can I claim expenses from self employed income against PAYE?

Hi there,

 

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?

Many thanks.

Comments
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Can Offset These Losses

petergrove |

Earliest year first

Kent accountant |
Kent accountant's picture

Ah yes, sorry - 11/12 :)

nannylaura |

Are they actual losses or

julieanneecc |

Tax Return completion

DMGbus |
DMGbus's picture

Thanks - I'm now even more

nannylaura |

Silly question but....

Matilda32 |