hello,
not sure if my situation is common enough of not, however i am currently paying taxes via PAYE but i am also doing some freelancing. I am assuming I would need to pay taxes towards freelance work. can someone please suggest:
* what is the threshhold after which i am taxed on the freelance income
* or will i be taxed at 40% on whatever i make as a freelancer.
* do i need to worry about the tax part if its nominal (as i have just started and dont know what i would make by the end of the financial year).
thanks for your ideas, links to the HMRC website would also be useful, i am searching around it as well at the moment.
not sure if my situation is common enough of not, however i am currently paying taxes via PAYE but i am also doing some freelancing. I am assuming I would need to pay taxes towards freelance work. can someone please suggest:
* what is the threshhold after which i am taxed on the freelance income
* or will i be taxed at 40% on whatever i make as a freelancer.
* do i need to worry about the tax part if its nominal (as i have just started and dont know what i would make by the end of the financial year).
thanks for your ideas, links to the HMRC website would also be useful, i am searching around it as well at the moment.
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