Tax question (any accountants here?)

Right, so, say you are paying the basic rate of tax and NI through PAYE via your normal employment.

Then, say you earn additional ?10,000 a year as a freelancer.

How much of that extra ?10,000 do you need to put aside for tax and NI? Assuming this extra income still keeps you within the basic rate of tax, is it as simple as saving 20% of it for income tax and 12% of it for NI? So, 32% in total?

Or not?

Posted By: duke of york, Sep 14, 10:38:21