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Where Taxpayers and Advisers Meet

Full Time employed and small amount of self employed

framprose
Posts:1
Joined:Sun Apr 17, 2016 9:16 pm
Full Time employed and small amount of self employed

Postby framprose » Sun Apr 17, 2016 9:21 pm

Hey,

So I have a question here it goes:

I have recently started a new job which I am being paid 17,000 per year which is full time monday - friday.

I am also considering doing a small amount of online work for a lady which will pay into my bank account an average of an extra £40 a month.

Obviously I will be paying tax on my full time employment but how does it work with the extra £40 a month. I am just wondering if it is worth doing the work if I have to claim on such a small amount will it tax me loads because of my other income and therefore be a waste of my time?

Its only such a small amount but I want to do it correctly as I do not want to get into any bother if i get it wrong.

Please someone advise me on this?
Thank you :)

section 44
Posts:4467
Joined:Thu Oct 30, 2008 12:47 pm

Re: Full Time employed and small amount of self employed

Postby section 44 » Mon Apr 18, 2016 9:29 am

The profit (which might be lower than the income) will be taxable. As described your a basic rate taxpayer.


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