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Self assessment help needed
Rover7895
Posts: 31 Forumite
in Cutting tax
I am employed full-time by a company in the UK and pay tax and insurance.
I have recently lost a few hours a week and to supplement my wage I have just sold some of my own digital artwork to a company in the USA for just over £3,000.
I realise I must pay tax on this added income, but I have no idea how to properly fill in the self-assessment as I don't have my own company, the artwork was just something I did in my spare time and a company discovered it and want to use it for their business.
How do I go about filling the self-assessment without a business?
0
Comments
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If you have only just sold it you have nothing to do at the moment. The deadline for filing 2020/21 tax return is Monday - this income is in 2021/22.If it is a one-off you could advise HMRC of the amount and ask them to adjust your PAYE code number to collect the tax due. I am not completely up to speed with the mechanics of this - but it is what I would do!1
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Yeah it's definitely a one-off that I received payment for on the 20th January. I can't see me selling my work in the near future anyway.[Deleted User] said:If you have only just sold it you have nothing to do at the moment. The deadline for filing 2020/21 tax return is Monday - this income is in 2021/22.If it is a one-off you could advise HMRC of the amount and ask them to adjust your PAYE code number to collect the tax due. I am not completely up to speed with the mechanics of this - but it is what I would do!
Will give them a call on Monday. Thank you.0
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