Coaching Saturday Job

rmelchio

Hi all,
I work full time and pay tax regularly as an employee. I have been offered a coaching position for 5h a week. How would I declare this income? Would it have to be declared as self-employed income or as other UK income in the self-assessment?

Can I use the trading allowance if it is lower than £1000? Would I still have to fill up the self assessment in that case?

Many thanks in advance for your help

Pennywise

rmelchio wrote: »

Hi all,
I work full time and pay tax regularly as an employee. I have been offered a coaching position for 5h a week. How would I declare this income? Would it have to be declared as self-employed income or as other UK income in the self-assessment?

Can I use the trading allowance if it is lower than £1000? Would I still have to fill up the self assessment in that case?

Many thanks in advance for your help

It'll be declared as self employment, and you'd be able to claim the usual "wholly and necessarily" expenses against the income. Or if your expenses are lower, then yes, you could claim the £1,000 as a deduction instead.

rmelchio

Thanks for your prompt reply. What if I have no registered business? The self-employment form seems to require business details. I don't want to deduct any expense, just to pay tax on the extra income.

[Deleted User]

There is no formal need to 'register a business' - you just need to register for self-assessment.

On the return use your home address as the business address.

00ec25

rmelchio wrote: »

Thanks for your prompt reply. What if I have no registered business? The self-employment form seems to require business details. I don't want to deduct any expense, just to pay tax on the extra income.

you need to change your mindset
you will be operating as a self employed coach
that means you are in business (aka trading) with a view to make money
you will incur expenses whilst making that money, eg: travel costs to get to the game


why post on money saving if you don't want to save money?


deduct the £1,000 allowance from your income and pay tax via a tax return on the residual if that is more than £1,000