Self employed to employed

[lord bunberry]

I’m thinking of leaving self employment and getting a job. Has anyone ever done this and how did you go about it regarding tax? Obviously I currently submit a tax return every year, but what I’m worried about is that if I take a job I will end up paying more tax than would be normal until everything is sorted out. Taking on a job will probably result in less money, but I can’t afford to take a big reduction even if I get it back eventually.

[Killiehibbie]

Everything was easy enough when I done it a few years ago. Getting used to having no cash and actually withdrawing money from the bank was the strangest thing.

[stoneyburn hibs]

I’m thinking of leaving self employment and getting a job. Has anyone ever done this and how did you go about it regarding tax? Obviously I currently submit a tax return every year, but what I’m worried about is that if I take a job I will end up paying more tax than would be normal until everything is sorted out. Taking on a job will probably result in less money, but I can’t afford to take a big reduction even if I get it back eventually.

I did the switch last March, it was seamless regarding paying tax. I thought it would be an issue too but didn't even have to pay any kind of emergency tax.
Still getting used to getting paid for holidays, as you'll know it's a big hit taking your summer holidays when you're self employed.

[RyeSloan]

Everything was easy enough when I done it a few years ago. Getting used to having no cash and actually withdrawing money from the bank was the strangest thing.

Agree. Also that regular salary payment landing like magic every month was also quite weird to get used to again!

As for the OP. I honestly can’t remember any issues at all but it was quite a while ago so sadly I can’t tell ya why that was the case.

[patch1875]

Not sure I could ever go back to working for someone again.

[Killiehibbie]

Not sure I could ever go back to working for someone again.

Not an easy thing to do. Almost forgot how many lazy, useless people there are hiding in the workplace.

[StevieC]

Not sure I could ever go back to working for someone again.

I’d be the same. It can be a tough slog being self-employed .. but it’s your tough slog

[Weegreenman]

No issues whatsoever. When it’s time to pay your bill, you only pay to the date you were last self employed. You’ll then be given a new tax code by your employer there after paying as you go.