will I always have to fill in a tax form?

josejones

Hi, I have someone that wants me to do a freelance job for them. The value is a few hundred pounds. Ild like to do it, but Ill have to fill in a tax self assessment form. I havnt done this before and know very little about it. Ive aksed a few people, and theyve said that once youve filled in a self assessment form, you have to fill it in every year. Is that right? I wont be starting the job (if I decide to do it) for a month or so. When would I have to send off the tax form? Im aware that the deadline for paper-fill tax returns has past, but theres time left to fill one in online. But that wont apply to me as thats for work done last year - is that correct?

fengirl_2

The income will be received in the year ending 5/4/09, so your self assessment will not be due until 31/10/09. The tax will be payable by 31/1/10.
You will only have to self assess for the year you earn the money and I suggest you declare them as casual fees rather than as a self employed business. You should make it clear when you complete the form that this is a one-off and you should then be removed from the system.

PasturesNew

For such low levels of income (under £15k I think), once you've filled in your basic name/address and a few more details, the part for your self-employment is one tiny tiny section. Nothing to worry about.

In this tiny tiny section, you just fill in a couple of simple figures. No need for the heart-sinking breakdown sections at all. Take a look at the self-employment form and see it for yourself.

Once you do finish any extra income such as this you can be removed by letting them know you no longer do it.

fengirl_2

I disagree with PasturesNew - if you enter the income as casual fees, it will give the strong signal that this is very much a one-off payment.

josejones

Thankyou for your comments. They've reassured me somewhat.
So Im better off declaring these as casual fees? Does that mean I still have a tiny tiny section to fill in? I really dont want to have to fill out details of my bank accounts, interest earnt, stocks and shares etc... Am I being too simplistic in thinking I just need to fill in my address details, the amount earnt (about £300! maybe more during the whole year), and how much tax is payable on that?

fengirl_2

Your self assessment has to include all your income from all sources, otherwise you would be in trouble for not decalring all your income and the tax wouldnt work out right!
You just include this income under a section marked 'other untaxed income' - not the self employment pages. Not possible to advise how much tax would be due on £300 without knowing your other income.

Garetha

josejones wrote: »

... the amount earnt (about £300! maybe more during the whole year), and how much tax is payable on that?

I'm a standard rate tax payer.
I think I pay about 20% tax on my self-assessed income.