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Posted Sat, 06 Jan 2024 21:52:10 GMT by
I notice that there is a tax free trading allowance for casual work. If this is less than £1000 in the year, it does not need to be declared on a tax return. I understand that if one is also self employed and the total from both exceeds £1000, it does have to be declared. What though if one is not self employed but has a full time job elsewhere? In my case, I have a full time job with a salary exceeding £1000 a year, but I've also done casual work that totals less than £1000 in the year. Does the tax free trading allowance still apply for the casual work?
Posted Wed, 10 Jan 2024 16:13:46 GMT by HMRC Admin 10
The tax free trading allowance of £1000, applies whether or not you have employment income or any other type of income.  Self employment / casual income is still taxable income, so the £1000 rules continues to apply.

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