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Employed and Self Employed
Corin7
Posts: 3 Newbie
in Cutting tax
I'm currently employed P/T £10k per year. I currently have £1,250 of my tax code transferred to my husband. I have just started a very small sales rep job which I anticipate earning below £1000 per year. Do I need to declare this income ? I am still below my remaining 1125 tax code and if this extra income is classed as self-employed I believe there is now a £1000 self employed allowance ? Will this still apply as I'm also employed ?
I'm keeping my books up to date, just incase I go over the £1000.
Thank you for any help and advice
I'm keeping my books up to date, just incase I go over the £1000.
Thank you for any help and advice
0
Comments
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No, the £1,000 trading allowance is still available to use against your s/e income so any income under that doesn't need declaration and doesn't affect your tax position. Just remember the £1,000 is against total income, i.e. sales, not profits.0
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