aperci123
-
Declaring tax on side hustle
Hello, first time poster here. I have a full time PAYE job. Additionally, I have a side hustle at Christmas assessing applications for the Chevening scholarship. This year, I earnt more than £1000 from this side hustle (approximately £1200). It's a one off payment I receive for this work. As this is over the £1000 threshold I believe I have to declare this additional income to HMRC. This is the first time I've done this so would appreciate any guidance. I'm finding the process quite daunting to navigate. So, I have my Government Gateway ID and I have registered for Self Assessment declaring myself as a Sole Trader - is this all correct so far? Once they've checked my application, I presume I then need to complete the Self Assessment Tax Return. Correct? I thought I'd post here in case anyone else has been in a similar position. Thanks, aperci123