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What should I do if I receive a payment from a surveys site?

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afm_2
afm_2 Posts: 698 Forumite
in Cutting tax
Hi All,

I am a postgraduate student and I don't understand anything about receiving money and having to declare it. So my question is, if I receive £20 from a surveys site, do I have to declare this to someone? If yes, to who and how should I declare it?

I would really appreciate some help on this.
Thank you!
Goal: Win a car (or cash to buy one :))! -- Haha goal from when I was a student. Never actually won this but got a good job instead.

What I achieved:
Car paid in full straightaway.
Two properties fully paid. Wohhoooo!

Comments

  • fengirl_2
    fengirl_2 Posts: 4,530 Forumite
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    You are allowed to have income of £6035 pa before you pay tax, so if this is your only income, you don't declare it. Unofficially, HMRC is happy to waive up to £100 in tax.
    £705,000 raised by client groups in the past 18 mths :beer:
  • afm_2
    afm_2 Posts: 698 Forumite
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    fengirl wrote: »
    You are allowed to have income of £6035 pa before you pay tax, so if this is your only income, you don't declare it. Unofficially, HMRC is happy to waive up to £100 in tax.

    fengirl, thank you so much for your reply.
    So, does that mean that I can receive the up £100 pa freely without having to do anything?
    Goal: Win a car (or cash to buy one :))! -- Haha goal from when I was a student. Never actually won this but got a good job instead.

    What I achieved:
    Car paid in full straightaway.
    Two properties fully paid. Wohhoooo!
  • fengirl_2
    fengirl_2 Posts: 4,530 Forumite
    Options
    No - tax on £500 is £100.
    £705,000 raised by client groups in the past 18 mths :beer:
  • afm_2
    afm_2 Posts: 698 Forumite
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    fengirl wrote: »
    No - tax on £500 is £100.

    I am really sorry to bother but I am really in need of some help :(

    There are some things that really confuse me.
    As I am a student, I don't have tax deducted from the interest in my savings. Does the interest in savings count as income?
    Also, if I sell something on ebay, does that count as income?

    In a whole year, I never get anywhere near the tax free allowance, but even so, should I fill in some kind of document declaring all these things?

    Thank you in advance.
    Goal: Win a car (or cash to buy one :))! -- Haha goal from when I was a student. Never actually won this but got a good job instead.

    What I achieved:
    Car paid in full straightaway.
    Two properties fully paid. Wohhoooo!
  • BruceyBonus
    BruceyBonus Posts: 1,142 Forumite
    First Post First Anniversary Combo Breaker
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    afm wrote: »
    There are some things that really confuse me.
    As I am a student, I don't have tax deducted from the interest in my savings. Does the interest in savings count as income?
    You don't pay tax on your interest because you earn less than £6035 - NOT because you are a student. Interest counts as income.
  • fengirl_2
    fengirl_2 Posts: 4,530 Forumite
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    Selling your own goods on EBay is not taxable.
    If your income is below the annual tax free limit, you do not need to notify anyone.
    £705,000 raised by client groups in the past 18 mths :beer:
  • N79
    N79 Posts: 2,615 Forumite
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    fengirl wrote: »
    Selling your own goods on EBay is not taxable.
    If your income is below the annual tax free limit, you do not need to notify anyone.

    Fengirl - I would not want to contradict you but HMRC have stated that you have to declare any income from property rental, however small. Was I given bad advice?
This discussion has been closed.
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