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Declaring additional income
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You keep referring to 'self-employed income', but for tax purposes it is your trading profits (i.e. after deduction of all your legitimate business expenses) that form the basis on which any additional income tax is calculated.
No free lunch, and no free laptop
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OK. So can a person who has trading profits from a side gig invest any part of that in a SIPP if they have already invested to the salary cap limit of their main employment?macman said:You keep referring to 'self-employed income', but for tax purposes it is your trading profits (i.e. after deduction of all your legitimate business expenses) that form the basis on which any additional income tax is calculated.0
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