ChaCha

lvm

This thing is bloody addictive...I need sleep!

mizzbiz

Was just having a look at this. DO you realise that if you do this in you spare time, for every £50 they pay you, you owe £10 to the taxman (disregarding expenses you can think up)? How long does it take you to earn £10? And if you're self-employed and this helps push you over the LEL then you can add £2.30 a week NICS to that aswell,

LegalBlonde

I'm not a tax Expert, but the personal allowance is £7,475

So £143 per week or £20 a day,

To earn £20 a day you need to do 684 answers, at 3p each. Unlikely I think,

If this was someone's only income I don't think they would get to this level.

If it is not their only income it is not really the ChaCha money that is putting them over the limit so I wouldn't look at it as £10 in every £50 personally,

Again I am no tax expert and I personally have no other income at the minute so that's the way I am looking at it.

LegalBlonde

I have just realised you stated as doing it in your spare time, which would imply another job, but £40 is better than £0 for every £50 in my view. So far it has been very much spare time such as when watching soaps or when OH on PC so for now I think why not but I might think differently after lots of toiling and not much to show for it!

mizzbiz

LegalBlonde wrote: »

I have just realised you stated as doing it in your spare time, which would imply another job, but £40 is better than £0 for every £50 in my view. So far it has been very much spare time such as when watching soaps or when OH on PC so for now I think why not but I might think differently after lots of toiling and not much to show for it!

No, it's cool if you're happy with that and you understand it. I did mean over and above another job rather than totally self -employed from this, in which case, as you say, the first £7.5k is tax free.

I just read thorugh the thread and saw a lot of people were confused about the tax and NI element and worried people might not realise fully what the tax implications are. Would be a nasty shock come self-assessment time!! Easpecially if it's taking an hour to earn under £3!

LegalBlonde

I know, it is really not ideal :S I suppose it does seem like you would never get near the personal allowance but if someone has even a part time job alongside it will, so after tax, NI, electric and broadband it wouldn't really be worth it at all!!

They seem to be quite a good company so far, so just a shame they can't pay a little bit more and they would get more people interested!

laura8417

I was interested in this, but I think the hassle of filling in a tax return at the end of the year, just because I've earned a little bit extra money, is a waste of time. The risk of getting penalties once you have registered as self employed because you didn't realise you needed to file a return for such a small amount is pointless in my eyes. If they operated a PAYE system then maybe I'd think about it.

thegirlintheattic

laura8417 wrote: »

I was interested in this, but I think the hassle of filling in a tax return at the end of the year, just because I've earned a little bit extra money, is a waste of time. The risk of getting penalties once you have registered as self employed because you didn't realise you needed to file a return for such a small amount is pointless in my eyes. If they operated a PAYE system then maybe I'd think about it.

This is my view also. That and for what little return you'd get if you work even part-time on another job, I'd rather spend my spare time doing something else. I get a bigger payout from the time I spend on surveys compared to the time I'd have to put in on this to make it viable.

amyleannewalker

I've been doing online surveys for a few weeks now (been keeping me busy over the summer holidays!) and hadn't thought of the tax implications for those until signing up for ChaCha. If we're having to file a tax return for this, do the same rules apply for the online survey sites?

iwanttogoonholiday

realistically what are the implications of this being taxed etc - could i just do it for an month - get £50 then not bother with it and therefore not do tax forms?