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Posted Sat, 11 May 2024 10:20:10 GMT by Trevor Turner
I was employed and paid tax PAYE for three months in 23/24 tax year and then retired early taking a small pension from a previous employer's scheme. Towards the end of the 23/24 tax year I was offered some casual consulting work for which I was paid £600 gross. How should I declare this income on my SA return ? I have completed an SA assessment for many years previously. Should I answer 'yes' to income in self employement, albeit the income is less than £1k, and complete SA103, or declare under miscellanoeous income? Thanks.
Posted Wed, 15 May 2024 15:59:35 GMT by HMRC Admin 25
Hi Trevor Turner,
As this income is covered by the £1000 trading allowance, you do not need to declare it on your Self Assessment tax return. 
You can find out more here:
Tax-free allowances on property and trading income
Thank you. 

 

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