HMRC Trading Allowance

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whambam
whambam Posts: 508 Forumite
in Benefits & tax credits
The trading allowance was introduced from 6 April 2017. If you have annual gross income from self-employment of £1,000 or less then you may not need to register your self-employment for that year. If this applies to you please read the guidance at gov.uk (https://www.gov.uk/guidance/tax-free-allowances-on-property-and-trading-income#trading-allce) before completing this form.

Do you need to register only with the HMRC if your earnings goes a penny above £1k?

Comments

  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
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    If your claiming any benefits I think you may have to declare it to tgat agency too.
  • whambam
    whambam Posts: 508 Forumite
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    Yes you can be on UC and also be self employed once your earnings exceed a certain amount per month the UC stop.
  • Darksparkle
    Darksparkle Posts: 5,465 Forumite
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    I thought you had to be registered self employed with HMRC to claim UC?
  • calcotti
    calcotti Posts: 15,696 Forumite
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    Darksparkle wrote: »
    I thought you had to be registered self employed with HMRC to claim UC?

    UC is for anyone on a low income (and limited savings) regardless of employment status.
    Information I post is for England unless otherwise stated. Some rules may be different in other parts of UK.
  • Darksparkle
    Darksparkle Posts: 5,465 Forumite
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    calcotti wrote: »
    UC is for anyone on a low income (and limited savings) regardless of employment status.

    Well done for stating the obvious. You've missed the point though.
  • Icequeen99
    Icequeen99 Posts: 3,775 Forumite
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    Darksparkle wrote: »
    I thought you had to be registered self employed with HMRC to claim UC?

    It isn't in the regulations like it is for Tax Free Childcare

    IQ
  • whambam
    whambam Posts: 508 Forumite
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    Does UC include child and working tax credits I see you are unable to apply for it now with the HMRC?
  • poppy12345
    poppy12345 Posts: 17,964 Forumite
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    whambam wrote: »
    Does UC include child and working tax credits I see you are unable to apply for it now with the HMRC?
    It replaces these....hasn't this been covered in one of your many other different threads?
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