Freelance & Permanent
CountingToThree · 19/02/2016 11:04
I seem to be developing a portfolio career - currently working two part-time jobs but have also just been asked to do a couple of bits of freelance work as well which I'm keen to build up in the longterm.
How does this work? I am paid through PAYE with all my tax, NI deductions etc in my current jobs, and am over the £10k tax threshold.
Do I need to register as self-employed and do my own tax return as well? (we're talking a few hundred pounds through freelancing at the moment, not thousands!) Is there anything else I need to think about?
CountingToThree · 19/02/2016 22:37
Bump for evening traffic
dodobookends · 19/02/2016 22:45
Yes, you need to register. You then do a self-assessment tax return, which has sections for income from employment and self-employed profit as well. They then work out how much tax you need to pay over and above any you've already paid via PAYE.
The advantage with being self-employed is that if you are using a room in your house for work, or even a desk and computer in the corner, you can claim a proportion of certain household bills as business expenses, and deduct that from your self-employed income. Keep all receipts for stationery, postage etc as well. Depending on your working arrangements you might also be able to recover part of your vehicle costs too.
To comment on this thread you need to create a Mumsnet account.