What are the complete steps I need to register for tax on odd jobs in the UK?
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I've done a couple of odd jobs and what would the EXACT STEPS be to register for tax in the UK? I read that you need to register for self employment... but what if an ...show more
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Answer:
Rough guide, will the turnover (all payments) be more than £2500 on a tax year and do you have employment within Pay As You Earn (PAYE) Over £2500 turnover you must register for Self Assessment, tax returns etc. Under £2500 and employed you write to HMRC, tell them how much PROFIT you expect to make - they adjust your tax code then at the nend of the tax year you tell them how much you actually made. If not employed you must register for Self Assessment. The NIC bill is small in SA anyway and is related to your profit not the number of weeks worked. Official site is hmrc.gov.uk - that is the reliable rule book.
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Other answers
All you need to do is keep records of payments and expenses and submit a self assessment tax form. Best to contact your local tax office if you are confused.
Pauline
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