Taxation on multiple income streams (From current wageslave PAYE only income)
in Boost Your Income
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Hi, I've been putting this off for far to long already. Hopefully the discription give the gist of my situation but basically ealry 50's earning 31K have been paye since i left school and am worried about my financial future, Have workplace pension in place but i know it won't be enough for me and the better half in retirement.
I have a few skills that i have learned over the years that i feel i may be able to earn some extra money from, but i have no idea about how i would go about setting up taxation on them as a self employed part time worker, I want to do this totally "Legit" from the offset so if anyone could give me a few pointers i'd really appreciate it.
This would be from 3-4 "Side hustles" So is it best to set up as a single person (Entity? sorry not sure of the term) and have all payments to one account and keep book keeping for each "Hustle" Or do i have to set up as a business for each one?
Side note I'm not looking to make "Millions" on this just a little extra to top up the pension pot and maybe given time look into other investments.
Again any help is greatly appreciated.
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