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Posted Tue, 24 Oct 2023 16:10:45 GMT by
I am an editor for an overseas website. I received an income in foreign currency which was equivalent to GBP800 for the last tax year. May I know if this needs to be reported in the self assessment.
Posted Fri, 27 Oct 2023 05:29:59 GMT by HMRC Admin 25
Hi volley liu,
As this would be classed as self employment and covered by the trading allowance you do not need to declare this.
Please see guidance here:
Tax-free allowances on property and trading income
Thank you. 
 
Posted Wed, 22 Nov 2023 13:48:00 GMT by
The above casual income (GBP800) was earned in addition to my regular income earned in UK. As above, am I right that I only need to report my regular income earned in UK and do not need to declare my casual income (GBP800 earned overseas)?
Posted Fri, 24 Nov 2023 08:45:02 GMT by HMRC Admin 25
Hi volley liu,
If it is classed as self employment, it will be covered by the trading allowance and therefore no need to report.
Thank you. 
Posted Wed, 27 Dec 2023 21:05:19 GMT by
Hello, I would like to clarify a related question. I received £350 from university for consultancy in training programs (not related to my main job) and I believe, £350 can be counted as a casual income and not taxable (as it is less than £1000 and I don’t have any other casual income). However, as university also took 20% tax with is £70, I would be interested how and where to insert these amounts in my annual tax return to get a refund of tax taken £70. Many thanks in advance for advice. Vlad
Posted Mon, 08 Jan 2024 15:50:02 GMT by HMRC Admin 5
Hi Volodymyr Anisimov

You would need to complete the self employment section of the online return.  
You will need to tick 'yes' to the question "Did you have an annual turnover of £85,000 or more?", as this will allow you to enter the tax deduced in the box named "Other tax taken off trading income:" or box 82 on page SEF4 of SA103F.  
You can claim "trading income allowance" equal to the casual earings of below £1000.00.

Thank you
Posted Mon, 08 Jan 2024 22:42:07 GMT by
Hello, I've recently started selling on ebay. Judging by current sales I'm going to make under £1000 profit by April 6th but my Gross will be more than this. Do I need to report the profit if its under £1000 or do I claim the small buisness allowance on this and don't report? Kind regards
Posted Mon, 15 Jan 2024 13:52:43 GMT by HMRC Admin 19
Hi,

If the turnover, gross, is over £1000, yes, you need to declare it as there will still be taxable income after the deduction of the £1000 trading allowance.

Thank you.

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