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Paying Tax on Regular Income

Discussion in 'Tes Authors' Group' started by ChrisWat, Apr 5, 2017.

  1. ChrisWat

    ChrisWat New commenter

    Morning folks,

    Just looking for advice really. Do I need to set up as a small business? Let's say I start to earn around £25 a week, on average, do I need to declare it?

    I don't want to pick up a huge bill at some point, as it becomes regular income?

    Does anybody on here declare their earnings from TES?
  2. mathsmutt

    mathsmutt Star commenter

    Of course!

    Post #6 on the Author's Advice Anchor thread may help you.
  3. LessonChest

    LessonChest New commenter

    I rang the lovely tax people about this. It was as simple as declaring what I earned between April 1st to April 1st the next year. I gave them the amount I earned this year and then an estimation of my earnings next year. They adjusted my tax according.

    That being said, it depends on how much you earn. I can't remember the figure, but under a certain amount, you don't need to do anything else. I suspect, however, after a certain point, it becomes more complex :)
  4. ChrisWat

    ChrisWat New commenter

    Hmmm, I think I will just give them a call and see what they say. If I give them the figures, I'd hope they can help me.
  5. LessonChest

    LessonChest New commenter

    It was much less daunting and perplexing I thought it was going to be Chris.
  6. peakster

    peakster Star commenter

    I have a normal teaching job and I tutor and do a couple of other things. Contact the HMRC and they will send you a self assessed tax form to fill in which is really easy to do.
  7. Shamster

    Shamster New commenter

    My Wife who does not teach any more, so basically unemployed. She helps me prepare the resources. I am thinking it would be better off if she did the tax form on her behalf?
  8. newromantic

    newromantic Occasional commenter

    That's one way around it. Presumably she will be under the tax threshold and she wont need to pay any tax at all?
  9. pigeonlearning

    pigeonlearning New commenter

    Tax rules have changed this year and you don't need to declare earnings of less that £1000 per year from small ventures, internet based or otherwise and/or an additional income of £1000 or less from property. Saving the tax people lots of paper work but I would imagine they will be a little more rigorous now if you are earning over £1000 from either. Only changed as of this April and its not been widely publicised but there is info on gov.co.uk.
    chrdol72, jonesk5 and hoppytimes like this.

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