Irregular job - advice please

Irregular job - advice please

Postby snoop12 on Fri Feb 03, 2012 1:54 pm

I am unemployed and have a tax allowance of £7000. I buy motorbikes for colleagues abroad, they ask if I can find a particular bike, they send me the money and I take a small percentage. I don't use my money. To my surprise I made roughly £6000 last year. I need to declare this money in the next tax year. This is an irregular money maker, for months I can do nothing. Can I just state the amount I have made and describe what I do in the tax self assessment and leave it at that? I have some expenses, petrol and a trailer. Can I add these?
I want to keep things as simple as possible.
Any advice welcome.
snoop12
 
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Re: Irregular job - advice please

Postby King_Maker on Mon Feb 06, 2012 1:44 pm

Business expenses are deductible from the commission income.

You may need to consider Class NI also.

When did this start?
King_Maker
 
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Re: Irregular job - advice please

Postby Peter D on Mon Feb 06, 2012 2:02 pm

You should be registered as self employed. Regards Peter
Peter D
 
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