Self employment tax

ziggycj

I have a full time job where I earn over the personal tax allowance so am a tax payer. I did some extra work and earned around £150. I am just about to do my self employment tax but I read that if under £1000 you don't need to pay tax but I couldn't tell if I would fit within this.

Do I still need to fill in the tax return or declare anything? Or do I just keep the records?

Thanks 

Vagabond1983

If your total turnover from work done outside of your PAYE employment totalled less than £1000, you do not need to complete a tax return as well.

The trading allowance lets you supplement your main income up to £1k per annum without needing to take further action or pay additional tax.

ziggycj

Vagabond1983 said:

If your total turnover from work done outside of your PAYE employment totalled less than £1000, you do not need to complete a tax return as well.

The trading allowance lets you supplement your main income up to £1k per annum without needing to take further action or pay additional tax.

Thank you for explaining. That's good to know.

LITRG

Hello. We are the Low Incomes Tax Reform Group (LITRG), part of the Chartered Institute of Taxation who are an educational charity. We are not part of HMRC or MSE. Although we can’t give individual advice, you might find our guidance on dealing with a tax return if your income is below the trading allowance helpful: https://www.litrg.org.uk/working/gig-economy#10. If you require further help, we recommend that you contact a tax adviser, HMRC or one of the tax charities where relevant. You can find more information about where to get help with tax here: https://www.litrg.org.uk/tax-nic/getting-help-tax. Thanks.