I'm starting contract work on 1 July 2014 (payable by client in first week of August), in addition to salaried work. If I register as provisional taxpayer in July or August, would I still have to submit my first return this August, or should I wait until after Aug to actually register? I'm concerned that projected earnings to Feb15 will inflate what I'd need to pay in August, considering I wouldn't have earned it yet to keep the extra tax aside?
You should register before August and submit a provisional return in August. Your PAYE paid on your salaried income will be deducted from the overall tax owing so you would effectively only be paying tax on the additional income.
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