Second part time freelance job?
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onedaysomeday
Posts: 561 Forumite
in Cutting tax
Hi all,
I am currently in full time employment but I am the position to start doing a second job in my spare time or quiet time at work, which would bring in an extra bit of income that would be classed as self employed.
I am wondering how I would go about doing this tax-wise? I would put an advert out to start with, but at what point would I officially declare it as self-employed income? It may well be that one or two people take me up on the service and that's it for the year, or only a few times a year. It could turn out that it becomes regular work. So how would I declare this?
Sorry if they are silly questions, I'm just looking to do this as a side-job to build up a portfolio until I can actually do it as a proper job, I'm just not sure how to go about declaring it.
Thanks in advance
I am currently in full time employment but I am the position to start doing a second job in my spare time or quiet time at work, which would bring in an extra bit of income that would be classed as self employed.
I am wondering how I would go about doing this tax-wise? I would put an advert out to start with, but at what point would I officially declare it as self-employed income? It may well be that one or two people take me up on the service and that's it for the year, or only a few times a year. It could turn out that it becomes regular work. So how would I declare this?
Sorry if they are silly questions, I'm just looking to do this as a side-job to build up a portfolio until I can actually do it as a proper job, I'm just not sure how to go about declaring it.
Thanks in advance
Just trying to make up for past mistakes and work towards the future I want :hello:
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Comments
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Your first £1k p.a. is tax-free I think. if you find it easy to earn more than that then either you tell HMRC and pay income tax as self-employed, or you start your own limited company and run it pretty much as your accountant advises.
https://www.gov.uk/guidance/tax-free-allowances-on-property-and-trading-income#tradeFree the dunston one next time too.0 -
Thank you for the link that's what I was trying to find many thanks Just trying to make up for past mistakes and work towards the future I want :hello:0
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I have a full time job too. I will be freelancing for about for a few hours a week on top of my job.
I will be freelancing from home and I understand that there are some expenses I can claim for a working from home business??
I wont be making much money but I want my tax to be correct etc.Where did all my money go??0 -
if you are making less than £1,000 then expenses are irrelevantI have a full time job too. I will be freelancing for about for a few hours a week on top of my job.
I will be freelancing from home and I understand that there are some expenses I can claim for a working from home business??
I wont be making much money but I want my tax to be correct etc.
the working form home allowance if you are making more than £1k is £216 for the entire year - which assumes you do work from home every single week0 -
Where does that come from?the working form home allowance if you are making more than £1k is £216 for the entire year - which assumes you do work from home every single week
For "a few hours a week" I would expect an allowance of £10 a month.
https://www.gov.uk/simpler-income-tax-simplified-expenses/working-from-home0
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