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Full time with minimum freelance tax help
lisaathers83
Posts: 1 Newbie
Hi,
I wonder if you could help. I have a full time job and earn £35k p/a. A friend of mine is struggling and needs a hand with his start up and has asked if I can do a little bit, offer advice etc, and he will pay me £100 per month. Obviously this isn't a lot and if it is going to mean that I have to pay a lot more tax then it isn't worth it.
Any advice on what the outcome would be of this would be great.
Many thanks,
Lisa
I wonder if you could help. I have a full time job and earn £35k p/a. A friend of mine is struggling and needs a hand with his start up and has asked if I can do a little bit, offer advice etc, and he will pay me £100 per month. Obviously this isn't a lot and if it is going to mean that I have to pay a lot more tax then it isn't worth it.
Any advice on what the outcome would be of this would be great.
Many thanks,
Lisa
0
Comments
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£100 a month is only £1200 a year so on top of your £35K salary you should still be within the basic rate tax band. So you'd pay 20% tax on your extra earnings, and no NI as you're well below the Lower Earnings Level.0
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I never understand why people think earning X amount extra will mean paying X + Y in tax0
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