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New business and working full time
Nicoll
Posts: 217 Forumite
I'm about to start teaching in evenings and weekends to earn some extra money. I already work full time and earn £25000. Would anyone be able to advice me what extra tax or NI I would have to pay.
I'm hoping to earn about £100 a month is all.
Want to be legal and don't know anything about working freelance!
Thanks in advance
I'm hoping to earn about £100 a month is all.
Want to be legal and don't know anything about working freelance!
Thanks in advance
There is no issue so small that it can't be blown out of proportion
0
Comments
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You would pay 20% on profits from Self employment.
You can claim small earnings exception for national insurance as you won't be earning over £5700 (I think it is now) and your main job will keep your contributions to the required level for state pension.
You can offset any costs involved in doing your teaching such as travel and materials.0
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