Welcome to Our Community

Wanting to join the rest of our members? Feel free to sign up today.

Sign Up

Income less than 1k: do I need to register?

Discussion in 'Accounting and Legal' started by Zoe, Sep 12, 2020.

  1. Zoe

    Zoe New Member

    Hello,

    I'm new to this forum but couldn't find an answer to this, so here we go:

    I'm a UK national living in Turkey. I've started doing small freelance jobs, and occasionally need to invoice clients for payment into UK PayPal. My work is minimal: I can't see my annual income going above GBP 1k for the moment.

    If the work is less than 1k annually, do I still need to register as a sole trader in the UK and do tax self assessment to be legit?

    Thanks,

    Zoe
     
  2. Yusuf Javed

    Yusuf Javed New Member

    Hi Zoe,

    You can directly contact with intax office though a call or email. They will guide your better as compared to others persons.
     
  3. Lupita

    Lupita Member

  4. KylieMcGrath

    KylieMcGrath New Member

    I see it's been a while, but I wanted to chime in. As per the HM Revenue & Customs (HMRC) guidelines, you may not need to register as a sole trader and do a tax self-assessment if your income is below the threshold of £1,000 annually. However, it's always better to be safe and check with HMRC or a qualified accountant to ensure you are following the correct procedures. If you need a hustle idea, I suggest learning how to make money on audible amazon. I hope that helps!
     
    Last edited: Mar 31, 2023
  5. oliverkell

    oliverkell New Member

    I would advise you to work on the Internet because that is where there is a chance to receive a passive income: having done the work once, from then on you can receive payment automatically, doing almost nothing for it.
     
  6. DorianGray

    DorianGray New Member

    Agree. I’ve been working remotely on the internet, and when somebody asks me what I do for a living, I can’t answer accurately, so I just say ‘as freelancer.
     
  7. omulmeu

    omulmeu New Member

    This year I moved house and started living alone in another town. I don't know anyone here, but I started searching for part time jobs near me. Also, I found a good method to earn money because it allows you to work from anywhere and earn money. It's a good method because you have a guide that explains to you what is better to do. Also, you have to register on the platform. You can collaborate with other freelancers. Also, your guide will always explain to you how to do your job better.
     

Share This Page