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Posted Sun, 10 Nov 2024 10:45:53 GMT by Jr73
Hi - I am primarily employed, but earn a little self-employed on the side. I am registered for self-assessment. In the 23-24 tax year, I had a self-employed turnover of less than £1000. In the self-employment section I have filled in business name/type and accounting dates (as still want to keep my SE status, and might make more from it next year). Do I still need to declare the actual turnover/expenses figures in the income section of the self-employment pages? Many thanks
Posted Wed, 13 Nov 2024 10:15:43 GMT by HMRC Admin 34 Response
Hi,
Yes. You need to declare your gross self employment income even if it is below £1000. You can chose to set the trading income allowance against this profit or claim expenses to set against it, but not both.
Thank you

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