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"Jack of all trades" and tax returns?

5 replies

RattieOfCatan · 19/05/2016 09:19

If you have numerous avenues of small amounts of income on a self employed basis, would you have to register as SE for each of them? I'm just thinking for the future really. I'm currently employed and self employed doing the same kind of work (childcare) so I'm registered as a self employed childcare provider and anything I do on a self employed basis goes through that, all my mileage costs, etc. I'm looking at picking up some bits and pieces next year once my maternity ends, hopefully some crafting bits, some childcare (nothing regular, just ad-hoc bits), doing surveys online, doing some other bits online, offering English lessons on a casual basis, etc.

Will I have to register SE for each avenue of income? I'm assuming that I would, but having to do a tax return for each seems a bit much when each avenue would be bringing in only small amounts? Is there a way of declaring the income together? Or would the expenses side be an issue?

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suitsyousir79 · 19/05/2016 09:26

I work full time PAYE and work self employed part time. My self employed work covered a couple of different areas but i invoice using my SE registered name. I do my own self assessment and it only asks for PAYE info and SE earnings/expenses. I would do it all using one SE registered name to be sure, but as long as everything is declared you should be ok.

disclaimer i am not an accountant and happy to be corrected.

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RattieOfCatan · 19/05/2016 10:32

Did you not have to tell them what the nature of your SE work is? I have an accountant but when I registered myself I was certain that they wanted to know the 'nature' of my SE work, if I could just do it under my name it'd make life much easier Grin My employed stuff is obviously all done so the accountant just works out my tax information for my SE work around that.

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dodobookends · 19/05/2016 10:36

No, you are just registered as self-employed once and everything goes through that, it doesn't matter how you've earned it. When you fill in the form where it asks you the nature of the job, just put down the one that earns the most, or that you spend most time on.

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RattieOfCatan · 19/05/2016 11:19

Oh, so you don't need to re-register for each self employed revenue? That's great, I'd go round the bend keeping separate accounts for each thing! I'm very good at keeping my accounts but it's not easy!

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dodobookends · 20/05/2016 00:17

For self-employed people there's no separate accounts needed for each type of income - you are just yourself being a business. It all goes in the same pot however you earned it, then deduct all your expenses for everything. That's it.

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