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Self employed income below tax threshold - do I need to declare it?
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celltech
Posts: 2 Newbie
in Cutting tax
I did a small amount of self-employed work in the UK this tax year, earning £1500 total.
I understand the personal allowance threshold this year is £8000, and I should not need to pay any sort of tax.
In this case do I still need to declare the income and fill out a tax self assessment? This was my only UK based income for the entire year and I have no other earnings or savings in the country (I work and live overseas, where I pay tax through their system).
I understand the personal allowance threshold this year is £8000, and I should not need to pay any sort of tax.
In this case do I still need to declare the income and fill out a tax self assessment? This was my only UK based income for the entire year and I have no other earnings or savings in the country (I work and live overseas, where I pay tax through their system).
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I did a small amount of self-employed work in the UK this tax year, earning £1500 total.
I understand the personal allowance threshold this year is £8000, and I should not need to pay any sort of tax.
In this case do I still need to declare the income and fill out a tax self assessment? This was my only UK based income for the entire year and I have no other earnings or savings in the country (I work and live overseas, where I pay tax through their system).
Yes..........."If you can bear to hear the truth you've spoken
Twisted by knaves to make a trap for fools"
Extract from "If" by Rudyard Kipling0 -
Yes, you need to declare if even if you are below the threshold. The taxman needs to see what you've earnt in order to be satisfied you don't owe anything.
The easiest way generally is to register for self assessment via the HMRC website.0 -
If you live overseas you may not be entitled to the UK personal allowance so 20% tax would kick in right away, though you would probably get credit for any UK tax you suffer against the foreign tax that you pay.0
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If you live overseas you may not be entitled to the UK personal allowance so 20% tax would kick in right away, though you would probably get credit for any UK tax you suffer against the foreign tax that you pay.
If you only live overseas for part of the year and then work part of the year in the UK would that allow you to claim the tax free threshold on what self employed earnings you have?£2013 challenge for 2013 £2013/2013 :j0 -
dontbegreedy wrote: »If you only live overseas for part of the year and then work part of the year in the UK would that allow you to claim the tax free threshold on what self employed earnings you have?
depends on your citizenship, have a read of the guidance on non residency and allowances
http://www.hmrc.gov.uk/international/tax-incomegains.htm0
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