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Self assessment Query.
Nick_Sellick
Posts: 83 Forumite
in Cutting tax
Hi All,
I have tried to contact HMRC about this, but it's like trying to knit fog.
I would like to know if it matters how I declare my self employed income? I earn some money from self employed work and some from a holiday let.
I have been declaring the income streams separately, but it would suit me to have one single figure.
I think that as long as it is declared, it doesn't matter , but I've been wrong before.
Does anyone have any knowledge of this area?
Thanks
Nick
I have tried to contact HMRC about this, but it's like trying to knit fog.
I would like to know if it matters how I declare my self employed income? I earn some money from self employed work and some from a holiday let.
I have been declaring the income streams separately, but it would suit me to have one single figure.
I think that as long as it is declared, it doesn't matter , but I've been wrong before.
Does anyone have any knowledge of this area?
Thanks
Nick
Be ALERT - The world needs more LERTS
0
Comments
-
Trading income and income from property are reported separately.0
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There are reasons why it does matter, potentially with any losses, capital allowances, NIC, etc. So, yes, you have to report separately. Your business on the supplementary section for self employment and your property income on the property supplementary section. You can't mix them.0
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