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Re: Income Tax When Working Full Time And Freelancing -
10-03-2008, 10:13 PM
If you are earning an income from your web development business then you are self employed and need to notify the IR within three months of starting trading, although I'm not absolutely certain whether this means from the start of business or from your first amount of money earned - I'm sure someone will be along to clarify)
Your self employed tax liability is totally separate from your PAYE so don't worry about that. If you contact your local tax office they will advise you on what to do next. Not declaring income can be a bit risky and not recommended if you want to sleep easy at night ![]() |
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Re: Income Tax When Working Full Time And Freelancing -
11-03-2008, 09:32 AM
Thanks for the reply.
![]() It's good to know that my self-employed tax liability doesn't affect my PAYE. The main thing really was that I wondered whether having a full time job, and earning money on the side, would make me employed or self-employed (or both). I guess contacting the tax guys and letting them know the situation would probably be the best thing to do. ![]() |
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Re: Income Tax When Working Full Time And Freelancing -
11-03-2008, 01:44 PM
Both. It may be wise to look for a good accountant. Although there will be costs involved in using one, what they can save you in tax usually makes it very worthwhile.
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