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What should I do if I receive a payment from a surveys site?
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!
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!
)! -- 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!
0
Comments
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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:0
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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.
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!0 -
No - tax on £500 is £100.£705,000 raised by client groups in the past 18 mths :beer:0
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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!0 -
You don't pay tax on your interest because you earn less than £6035 - NOT because you are a student. Interest counts as income.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?0 -
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:0 -
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?0
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