Ad-hoc retirement income declared as Sole Trader income?

[Lance]

So even if its one small fixed price piece of work for say £3K in a calendar year, you would still register as a sole trader and declare it as sole trader income on your SATR?

Yes.


Or use an umbrella.

[Fred Bloggs]

Yes.


Or use an umbrella.

Unfortunately, I think that would cost you employers NICs even if the individual is over state retirement age. There's no better way than self employment if over state retirement age for small amounts of ad hoc side hustle income.

[Lance]

Unfortunately, I think that would cost you employers NICs even if the individual is over state retirement age. There's no better way than self employment if over state retirement age for small amounts of ad hoc side hustle income.

TIL that you don't pay NICs after state pension age.

So yes. Self-employed makes more sense.