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Posted Thu, 11 Jan 2024 10:38:52 GMT by Isaac Palmer
Hi there, I'm a PAYE employee who earned £33,000. I also earned £3,600 from self-employed income. I've ascertained that £1,000 or under of self-employment income does not need to be declared. Does this mean that on my tax return, I input £33,000 as my PAYE earnings and £2,600 as self-employed income? Many thanks, it's really hard to find definitive answers online so thought it would be easiest to ask. Cheers
Posted Mon, 15 Jan 2024 12:20:56 GMT by HMRC Admin 10
Hi
No. You declare the £3600 as turnover from self employment and then claim the trading allowance of £1000. you cannot claim any other expenses for your self employment if you claim the trading allowance.
Posted Tue, 16 Jan 2024 09:16:23 GMT by Isaac Palmer
Understood thanks. I can see where to do this on the self-assessment now and the calculation makes sense. Thanks for your assistance

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