Meet the Other Phone. Protection built in.

Meet the Other Phone.
Protection built in.

Buy now

Please or to access all these features

Money matters

Find financial and money-saving discussions including debt and pension chat on our Money forum. If you're looking for ways to make your money to go further, sign up to our Moneysaver emails here.

HMRC help

4 replies

Namechange10003 · 15/05/2024 07:19

Hello. I thought I was relatively intelligent until it came to understanding taxes! After waiting over an hour to get through to HMRC I'm hoping a kind person can help me please! Blush

I have a job, which I earn slightly over the tax threshold for. I've taken on a second little side job cleaning a sports hall. It's a few hours per week & I'll earn around £50 per week.

Do I need to register as self employed now? I read I can claim back my cleaning products, do I just keep receipts for these? It's not my own business, just a way to earn some extra cash

I'm starting to think it may not be worth it in the end but giving it a try. The world of HMRC has left me confused!

OP posts:
OPOPONAX4 · 15/05/2024 07:24

You will be self employed and you will need to fill in a SA form.

Expenses like cleaning products can be deducted from your turnover.

MissMaryBennett · 15/05/2024 07:26

https://www.gov.uk/guidance/tax-free-allowances-on-property-and-trading-income

You can earn up to £1000 from self employment a year without needing to pay any tax.

If you earn more, you can deduct the £1000 or you can deduct your actual expenses, but not both.

It sounds as if you will earn more than £1k and so would end up owing a small amount of tax and if this is the case then yes you should tell HMRC and file a tax return.

Tax-free allowances on property and trading income

Find out about annual tax-free allowances for property or trading income and if you qualify.

https://www.gov.uk/guidance/tax-free-allowances-on-property-and-trading-income

Namechange10003 · 16/05/2024 08:15

Thank you both.

It's a whole new world of confusion for me 🤣

OP posts:
New posts on this thread. Refresh page
Swipe left for the next trending thread