Being employed + self employed

joshclem

Hi guys i really am struggling with this, really greatful for any help.

My situation:

I currently work full time on a salary of approx £12k a year and obviously pay tax on this.

I need to earn more, so i am going to be doing part time work for chacha - who ask me to fill in a self-employed form to send to HMRC, however, it feels strange to fill in a self employed form, when around 80% of my income will be coming from employment... so do i definatley need to fill in the self-employed form, and if i do, should i fill in the one for low earnings under £5k?

If im only earning £20/week from self-employment, is it worth it for this confusion?

Please help, thanks

HappyMJ

Yes you do. Seems silly but you need to register as self employed then apply for exemption from national insurance due to low earnings. You will then need to fill out a self assesment tax return in which you declare your profit from self employment and pay income tax on that profit.

Gazing_On_Sunsets

It's really easy, don't be scared! I'm in a similar position. I pay tax on my main job and I have 2 self employments. I did a low-earnings exemption and it runs for more than one year, I think my current one runs out next year.

The tax returns are so easy online, just make sure you keep a record week to week - when you do it online they'll just want the yearly figure. When you phone them up to tell them you're self employed they are really helpful and will send you info too.

It's worth doing, because if you're caught they will hang you up by the curlies.

Cabby

I posted HMRC my small earnings exemption application at the end of September and got the certificate back last week - very simple and a weight off my mind!