Earning extra and Self-Assessment

[Ourcrazylife]

Hey.
Ok so I currently work PT for a company but was offered a side line job for my 2 days off. It'd only be around £50 a day and only for 2 months. I called HMRC and they are saying as long as I don't earn over £2500 for the year (I estimate it'll be £600), then they don't need to know until I renew next year. My question is, do I need to do a self-assessment for such a small amount? The company I will be helping out will see me as self-employed and in charge of my own tax as they'll be putting me down on their paperwork but do I really need to complete a self assessment or register in some way for this?
Any help would be appreciated as I can't make head nor tail of the gov.uk website.

Thanks

I completed a self assessment for £474 that I made on the side. I never bothered continuing with the job the following year as I wasn't making what I expected, therefore didn't complete the self assessment the next year. I keep getting letters now that say i am due to pay a fine. I appealed, but they have ignored the appeal letter and keep sending letters saying to pay the £100 fine before it increases

Who must send a tax return
You must send a tax returnn_ if, in the last tax year (6 April to 5 April), you were:
• self-employed as a ‘sole trader’ and earned more than £1,000
• a partner in a business partnership
You will not usually need to send a return if your only income is from your wages or pension. But you may need to send one if you have any other untaxed income, such as:
• money from renting out a property
• tips and commission
• income from savings, investments and dividends
• foreign income

@Laurenk474 If Hmrc issue a tax return it must be filled in even if you left the job. You should have entered the leaving date in the self-employed section with £0.00 turnover. I can't see you getting out of the penalty to be honest, it's not a good enough reason in their eyes. I'd pay up if I were you before it escalates and make sure you are now taken out of the system or the same will happen this year.

Use trading allowance to offset the earnings.
www.litrg.org.uk/tax-guides/self-employment/what-trading-allowance
Do keep accurate records.

Thank you all, this has been helpful. It won’t be over a grand but if they send a letter out to me next year I will go ahead with it. I will have a receipt for every job anyway.

Lauren I hope you get yours sorted soon. Tax stuff is just a nightmare
X