Trading Allowance For Side Job

RitchTea23

Hi all,

I'll soon be starting a side job hosting quizzes for a local quiz-hosting company. They find the venues, write the quizzes etc., I just have to turn up and host.

I'm not directly employed by said quiz-hosting company. I think effectively I'll be a contractor, sending an invoice for each quiz I host.

I assume I'll get the £1000 trading allowance. Are there any deductions I can make, e.g. for diesel on the way to the venue? Costs for bags to carry all the equipment? And how do I go about noting these deductions? On each invoice or just on self-assessment at end of the year?

Any help is appreciated!

Cheers

RitchTea23

Apologies for slightly misleading title - started the post asking one question, realised I already knew the answer and asked a different question!

BoGoF

You either claim trading allowance or actual expenses. You can't get both.

sevenhills

https://www.gov.uk/guidance/tax-free-allowances-on-property-and-trading-income

If your annual gross trading income is £1,000 or less, from one or more trades you may not have to tell HMRC, however....

RitchTea23

Thanks guys. Read up on so many different websites, was getting confused with it all. Think I've got it now. Much appreciated!