Another way round can be that the money is a gift. They cant Tax you on that if it is under £5,000 at a time
You will ned to complete a Tax return. If you have any income that is not taxed at source, like rents or freelance earnings, you need to complete a tax return. It cant be paid to you as a 'GIFT' as suggested by someone in previous post as you are supplying a service. All earned income must be declared. Additionally all items purchased for the provision of the service you are supplying can be offset against the income to reduce the Tax liability. (i.e. software, computer, travel expenses etc) -keep good and accurate records!
To be a sole trader, a partner, or a member of a limited liability partnership as an individual rather than a company, you must be self-employed - and registered as such with HM Revenue & Customs (HMRC). This does not mean that you can't also do other work as an employee, but the work you do for your own business must be done on a self-employed basis.
Thank you all for your comments. Based upon that I have rejected the job. Too much faff for me just to do it for one school as a side line.
THANKS AGAIN EVERYONE!
FN-GM, that would be the case if you were registered as a UK limited company, but unfortunately not for self-employed purposes.
You are accountable for all money going in and out of your bank account and so the tax lands on you.
I wouldn't even attempt to cheat the system just because it wouldn't be worth it
There are currently 1 users browsing this thread. (0 members and 1 guests)