not sure how best

Johnycuban

Ok so a little strange this one. I have a full time job and am a higher rate tax payer, two evenings a week I am going to be teaching fitness classes for an independent gym this will generate about £60 a week.

Currently I self asses, now do I just add this as an addition income to my self assessment, then pay the 40% tax on it? Or is there a better way to do this to minimise my tax?

thanks in advance

Savvy_Sue

There might be better ways to do this to minimise your tax, but tbh you'd probably do better to speak to an accountant or IFA, possibly even pay for some advice, because we can't, on a forum, ask you all the questions which would need to be considered in order to give you the right advice for you and your situation.

for example putting more into a pension or getting childcare vouchers (if relevant) might be simpler ways of minimising tax due.

You certainly can just add it to your self assessment.

paddyrg

Basically if you self assess them you pay tax on your income, it's income, so you pay the prevailing rate as you suspected. You may have some deductible expenses though which means by keeping clear records you can save a few quid.