Uber Eats Tax

[Suddy72]

Hi All.

I have recently started working for Uber Eats part time. This is just to make extra cash at night on top of my annual salary.

I have no idea what I should be keeping aside for tax. I have heard various different versions of accounts. I know I am required to file a self assessment in April 2018.

I believe I will be charged 25% upto £42,000 (including my normal salary) is this correct?

Also I have no idea how expenses work. Do I only tax my profit from the working?

For example if I make £500 but buy a bike (need a bike for the job) for £500 does that mean I am required to pay no tax?

Any advice for a newbee is very much obliged!

Thanks
Stuart

[RMC]

From 2017/18 there is a new £1,000 allowance for property and trading income, so if you receive less than that from your new trade, the only good reason to prepare accounts and file tax return would be if you make trading losses and want to claim loss relief.

BTW Basic rate of tax normally goes up to £45k.