Hello, I have a full time job in IT. But people are constantly asking if I'd be willing to do other small projects outwith my proper job.
What should I do if I want to do these projects with regards to tax or registering with Inland Revenue or anything else I might need to do? Or is there a limit to how much I can earn part time without having to pay tax on it?
thanks, Dave
If it's minor, just list it on your tax return as miscellaneous casual earnings. Question 13.
If it's major, to the extent that you could be considered to be running a business, then you need to register as self-employed, and complete the self-employment pages SA103 of the tax return.
Alternatively set up a Ltd company
Also check your employment contract - if the work you are doing is in competition with your employer (ie if they offer the same or similar service to what you are doing on the side), then this could breach your employment contract.
Or a PLC.
ROFLMAO...
... and IPO the following month... :-)
"Troy Steadman" wrote
Ermmm - what does the "L" in "PLC" stand for? ;-)
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