I'm sure this question will be helpful for some others on this forum too.
I'm just wondering if I was employed full time and earning £25,000 per year, I then decide to start a small business in my spare time fixing pc's or designing websites.
I understand that you can have £5035 before paying tax, Is my work income and the income from my small business combined? Let's say i make £5000 in my small business, does that mean it's under the paying tax limit or is my work income considered with it which would be £30k total?
Any more info about this would be very helpful to me as this is something I want to do. Work full time to get a guaranteed income and then start a small business at home to see what i can do with that and have some fun.