I declared myself as self employed as I was doing mystery shopping which I do on an occasional basis. I've also now have an income writing small pieces of computer software.
When I fill out my SA can I merge all the income, losses, etc. from both jobs or would I need to fill out two forms?
You can only have one self-employed job, as you only have one self to be employed by. The fact that your self does work for a number of different clients doing widely varying things doesn't change the fact that, as far as HMRC is concerned, it's one job.
So the answer is yes, it all goes on one form and all income/expenditure from all sources needs to be accounted for at the same time.
Mark
Ummm - I don't think that computes in the sense "self-employment" is used for tax purposes. You can have many different trades and professions. Eg a self-employed dentist could also be an author; a self-employed bricklayer could also be a partner in a hairdressing salon.
HMRC advise otherwise. See the SA Helpsheet 220 "More than one business"
"Sole traders
You must complete a set of Self-employment (full) pages
. for each business you are involved in
. for each account that relates wholly or in part to your basis period for 2010 -11. Read the Self-employment (full) notes"
It is necessary to keep the trades separate else the sums just don't work on commencement and cessation (which can happen separately). And then there are the special rules for some trades.
Well exactly, and the separate trades are just that. They require separate sets of accounts, with separate and appropriate apportionments of (eg) Use of Home as Office, Telephone and all the rest. Losses in one trade cannot be set against profits in another.
What if your trade is "odd job man"?
Mark
I was with you until the last sentence. Losses from a "proper" trade can be set against general income: see eg
I really thank you for that, and the rules have changed since I last thought I understood them. Does "general income" include "rental income" do you think?
Oh yes, yes...[imagine annoying nodding dog if you wish].
That annoying dog would be shaking his head (unless it's a loss from furnished holiday lets).
The question was
'Does "general income" include "rental income" do you think?'
Is it possible that you misread it as asking whether *losses* from a property letting business could be set against general income? If not, could you please point me to what excludes property income from "general income"?
Spot on. I'll fetch my coat and head for the nearest street party.
A very generous (and increasingly rare on Usenet) admission.
That said, I am still waiting for my sticky bun :
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