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£1000 trading allowance is made clear on tax return

soolin
Posts: 73,966 Ambassador


in Cutting tax
I realise this is old news now but there is still confusion and misinformation on some other forums, even on the ebay community boards about when a person has to complete a tax return and when they only need to do so voluntarily. The major misconception is that self employed 'profit' of less than £1000 doesn't need to be declared , or that you need not declare a second business if that is under £1000. However HMRC are clear in that the £1000 limit is turnover and it applies to all combined self employed sources.
I'm just doing my 2018/2019 tax return online (I'm always late in starting this
) and notice that the £1000 trading allowance is made very clear in the opening pages. It states
"Was your turnover more than £1,000 in total from all self-employments? Please check help "
then if you click 'help' it goes to this page:
https://www.tax.service.gov.uk/information/help?helpcategory=selfAssessmentFiling1819&affinitygroup=individual&helpid=hasBusinessesHelp
I'm sure I'm telling everyone what they already know- but only today I have seen mention on a different group that someone whose profit from a second self employment (ebay) doesn't need to be declared as they can get it under £1000 after taking into account expenses and it is not impacted by their main freelance income which is declared as self employment.
I'm just doing my 2018/2019 tax return online (I'm always late in starting this

"Was your turnover more than £1,000 in total from all self-employments? Please check help "
then if you click 'help' it goes to this page:
https://www.tax.service.gov.uk/information/help?helpcategory=selfAssessmentFiling1819&affinitygroup=individual&helpid=hasBusinessesHelp
I'm sure I'm telling everyone what they already know- but only today I have seen mention on a different group that someone whose profit from a second self employment (ebay) doesn't need to be declared as they can get it under £1000 after taking into account expenses and it is not impacted by their main freelance income which is declared as self employment.
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