If, once retired I wanted to supplement my retirement income with a bit of tech project work found on the online "gig economy" sites like Upwork, Freelance, PPH etc, then this could simply be declared as sole trader income in the SA return right? These are pretty much fixed price gigs and would be relatively small like creating a basic website/app for £2/3 K. There's no IR35 implications, or any issue HMRC would have with that income being declared as sole trader income?
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Ad-hoc retirement income declared as Sole Trader income?
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You'd need to register with HMRC as a sole trader and then they'd ask you to fill in a SATR each year.
IR35 could still apply regardless of the platform via which you secure work. It's about the contract and working practices. However, there would be less taxation for HMRC to chase if all your income is reported on SATR and the amounts due are paid on time -
Originally posted by ladymuck View PostYou'd need to register with HMRC as a sole trader and then they'd ask you to fill in a SATR each year.
IR35 could still apply regardless of the platform via which you secure work. It's about the contract and working practices. However, there would be less taxation for HMRC to chase if all your income is reported on SATR and the amounts due are paid on timeComment
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Originally posted by hgllgh View Post
Would it even be worth registering as a sole trader and declaring on SATR? HMRC have got bigger fish to fry rather than chasing a few pensioners for a few hundred pound per year?'CUK forum personality of 2011 - Winner - Yes really!!!!Comment
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I might be a similarish situation shortly.
The key thing here is to play by the rules.
Register as a small trader or incorporate if you have to.
Do the paperwork. Stick to the deadlines.
As for IR35 take specific advice on a case by case basis.
Former IPSE member
My WebsiteComment
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Originally posted by courtg9000 View PostI might be a similarish situation shortly.
The key thing here is to play by the rules.
Register as a small trader or incorporate if you have to.
Do the paperwork. Stick to the deadlines.
As for IR35 take specific advice on a case by case basis.Comment
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Originally posted by hgllgh View Post
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?
Sounds like you want us to say "sure, it will be fine", but I doubt you'll get that from many on here. Do it by the book and then you've nothing to worry about.…Maybe we ain’t that young anymoreComment
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Originally posted by hgllgh View Post
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?Comment
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Originally posted by hgllgh View PostIf, once retired I wanted to supplement my retirement income with a bit of tech project work found on the online "gig economy" sites like Upwork, Freelance, PPH etc, then this could simply be declared as sole trader income in the SA return right? These are pretty much fixed price gigs and would be relatively small like creating a basic website/app for £2/3 K. There's no IR35 implications, or any issue HMRC would have with that income being declared as sole trader income?Comment
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