Just wondered if there is anyone who could help me out, tried googling but getting mixed results.
I am currently self employed, earning around £90 a week after expenses. I pay voluntary NI (£2 approx a week)
I have been given the opportunity to do some of my old work on a freelance basis, starting from 1 week worth of work spread put over the month Would this affect my self employment status at all? Do I need to inform HMRC of the extra job, I will only be on £10 extra for the week of freelance work. I will be based in a shop and using their equipment.
If all goes well on the freelance front I can hopefully use it as my main (hopefully only) job, and I will inform HMRC of the change. But this will be in about 6-8 months as I need to save up for the start up costs.
Will I get lumbered with a huge tax bill, as I know if in a PAYE situation the second job is always taxed more heavily (past experience) even if on the same pay as first job.
Thanks in advance