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Register for tax?
6Stringer
Posts: 25
Forumite
in Cutting tax
Hi all
I am a new member here and would like to ask a few questions.
I have a part time job and I play guitar and uke as a hobby. I have been asked to provide a series of lessons for a local charity. I don't expect to be paid more than £250 for this. My questions are:
1. Do i have to register as self employed once starting the lessons?
2. Can i treat it as a hobby/upcoming business and not contact HMRC? (Something to do with being exempt because taxable income is less than £1000)
3.Will i have to pay NI contributions?
4.Will i have to fill out a Self Assessment form for such a small amount of earnings?
Thanks in advance for all help.
6Stringer
I am a new member here and would like to ask a few questions.
I have a part time job and I play guitar and uke as a hobby. I have been asked to provide a series of lessons for a local charity. I don't expect to be paid more than £250 for this. My questions are:
1. Do i have to register as self employed once starting the lessons?
2. Can i treat it as a hobby/upcoming business and not contact HMRC? (Something to do with being exempt because taxable income is less than £1000)
3.Will i have to pay NI contributions?
4.Will i have to fill out a Self Assessment form for such a small amount of earnings?
Thanks in advance for all help.
6Stringer
0
Comments
-
Nothing to report, it is covered by the new £1000 exemption.0
-
Thanks very much for the reply.
Would i have to disclose this amount when filling in a tax credit form? ie child tax credits or working tax credit.0 -
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