EnArKay

Thanks for the reply, I assumed that would be the case. One final question though to which I can not find a clear answer on-line... I have already registered for Self Assessment, is registering again as Self Employed a separate step or do I simply have to tick the relevant box and enter a "company" name when filling in the assessment on-line? Thanks in advance again

I do some on-line testing from home paid in USD and in 23/24 for the first (and I will ensure only) time I have gone slightly over the trading income threshold. I am aware I have to declare it in self assessment and have kept an audit trail via my own records, references and my paypal statement. It is only "pin money" and I will not attempt to offset any expenses such as internet connection etc. against it. 1. Do I need to register as self employed for 2023/24 ahead of filing the return or just put the USD amount as foreign currency income? 2. If I have to enter the GBP amount, do I state the amount I actually received using paypal's exchange rates at the time or use the HMRC rates - and if so which HMRC rate, monthly? Thanks in advance