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  • FIRST POST
    • diamondflag66
    • By diamondflag66 5th Dec 17, 1:31 PM
    • 3Posts
    • 1Thanks
    diamondflag66
    Declaring Tax
    • #1
    • 5th Dec 17, 1:31 PM
    Declaring Tax 5th Dec 17 at 1:31 PM
    I have recently signed up to a couple of online paid surveys sites. Do I need to declare this income? It is only going to be £20 a month at the most. I am confused after reading about the trading allowance which is "a tax exemption of up to £1,000 a year for individuals with income from:
    self-employment
    casual services, for example babysitting or gardening
    hiring personal equipment, for example power tools
    If your annual gross income from these is £1,000 or less, you won’t need to tell HMRC."
Page 1
    • tykesi
    • By tykesi 5th Dec 17, 4:08 PM
    • 1,845 Posts
    • 2,567 Thanks
    tykesi
    • #2
    • 5th Dec 17, 4:08 PM
    • #2
    • 5th Dec 17, 4:08 PM
    I have recently signed up to a couple of online paid surveys sites. Do I need to declare this income? It is only going to be £20 a month at the most. I am confused after reading about the trading allowance which is "a tax exemption of up to £1,000 a year for individuals with income from:
    self-employment
    casual services, for example babysitting or gardening
    hiring personal equipment, for example power tools
    If your annual gross income from these is £1,000 or less, you won’t need to tell HMRC."
    Originally posted by diamondflag66

    I'm not sure how that's confusing. If you earn less than £1000 extra from sidelines or casual earning you don't need to declare. I think the wording is clear enough.
    £2017 in 2017 - £6362.49
    • diamondflag66
    • By diamondflag66 5th Dec 17, 8:20 PM
    • 3 Posts
    • 1 Thanks
    diamondflag66
    • #3
    • 5th Dec 17, 8:20 PM
    • #3
    • 5th Dec 17, 8:20 PM
    What I am confused about is why so many people say that you do need to declare for online surveys when it says that you don't. Also did the new rules (trading allowance) go through or not?
    • droopsnoot
    • By droopsnoot 6th Dec 17, 11:49 AM
    • 1,095 Posts
    • 700 Thanks
    droopsnoot
    • #4
    • 6th Dec 17, 11:49 AM
    • #4
    • 6th Dec 17, 11:49 AM
    I hadn't realised until another poster pointed it out that this trading allowance now does seem to be part of the finance act. I suspect many others are in the same position, which would account for some of the advice being wrong.


    ETA - have a read of this thread for some more information: http://forums.moneysavingexpert.com/showthread.php?t=5751884
    • Merlin's Beard
    • By Merlin's Beard 6th Dec 17, 1:09 PM
    • 174 Posts
    • 823 Thanks
    Merlin's Beard
    • #5
    • 6th Dec 17, 1:09 PM
    • #5
    • 6th Dec 17, 1:09 PM
    What I am confused about is why so many people say that you do need to declare for online surveys when it says that you don't. Also did the new rules (trading allowance) go through or not?
    Originally posted by diamondflag66
    Because it only became law about two weeks ago. If you're searching anything older than that, then they would have been correct at the time.
    Grocery Challenge June 17 onward; aim: £100/month; leftovers to date: £8.79
    • diamondflag66
    • By diamondflag66 6th Dec 17, 1:56 PM
    • 3 Posts
    • 1 Thanks
    diamondflag66
    • #6
    • 6th Dec 17, 1:56 PM
    • #6
    • 6th Dec 17, 1:56 PM
    Thanks, I didn't know that since its not been widely reported that this new finance act had been made law.
    • scaredofdebt
    • By scaredofdebt 6th Dec 17, 3:17 PM
    • 925 Posts
    • 368 Thanks
    scaredofdebt
    • #7
    • 6th Dec 17, 3:17 PM
    • #7
    • 6th Dec 17, 3:17 PM
    At last a sensible law that helps out "normal" people!
    • Merlin's Beard
    • By Merlin's Beard 6th Dec 17, 9:44 PM
    • 174 Posts
    • 823 Thanks
    Merlin's Beard
    • #8
    • 6th Dec 17, 9:44 PM
    • #8
    • 6th Dec 17, 9:44 PM
    Thanks, I didn't know that since its not been widely reported that this new finance act had been made law.
    Originally posted by diamondflag66
    The Government had to abandon plans to enact it in May, because they called a General election that they stunningly lost out at.

    I mean, would you draw attention to the fact that you had to give something a second go because you fell on your face first time round?

    So they quietly released it in the week of the Budget and tried to bury it and pretend it's been in place since May
    Grocery Challenge June 17 onward; aim: £100/month; leftovers to date: £8.79
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