Declaring earnings

[jollyjelly]

Hi everyone, I'm a newbie to earning money online, having only done the odd survey. I was just wondering if you knew which of the online earning avenues you have to declare or include as earnings.

For example, I am aware that matched betting is tax free - so do I ever have to declare this?

What about earnings through apps or surveys - would these be declared if they amounted to a significant value?

I assume that if I was to ever start a blog, I would have to declare earnings through this so I'm just a bit uncertain as to what I should declare - just want to make sure I do everything by the book! Thanks!

 

[Falanouc]

All earnings must be declared excluding gambling and wins e.g. lottery etc.

You need to declare any earnings if you make more than £1000 in a year so that includes all surveys, apps, blogging etc. Register asap as self employed and it's easier to work on a cash received basis so you keep track of all moneys received (this includes vouchers - not just cash).

You'll submit a self assessment from 6th April each year (if you do ever stop earning, you must let HMRC know or you'll be fined for not submitting a return). They are really easy so don't let that put you off!

 

[jollyjelly]

Super, thanks for the advice. I didn't realise it included vouchers too. Do you know if it would also include gift items that were included as incentives too, e.g. if an app said it would pay you £3 plus the cost of the drink - do you include the cost of the drink too?

I best get started on a spreadsheet to track everything then just in case

 

[Falanouc]

Super, thanks for the advice. I didn't realise it included vouchers too. Do you know if it would also include gift items that were included as incentives too, e.g. if an app said it would pay you £3 plus the cost of the drink - do you include the cost of the drink too?

I best get started on a spreadsheet to track everything then just in case

You'd have to include the cost of the drink as an expense then include the reimbursement as an earning - they cancel each other out so you're only left with the profit.

Keep the receipts incase HMRC want proof.

 

[jollyjelly]

You'd have to include the cost of the drink as an expense then include the reimbursement as an earning - they cancel each other out so you're only left with the profit.

Keep the receipts incase HMRC want proof.

Thanks Falanouc! Lots to learn but glad I'm learning about all this now. Handy that it's the start of a new financial year too

 

[The Reverend]

All earnings must be declared excluding gambling and wins e.g. lottery etc.

You need to declare any earnings if you make more than £1000 in a year so that includes all surveys, apps, blogging etc. Register asap as self employed and it's easier to work on a cash received basis so you keep track of all moneys received (this includes vouchers - not just cash).

You'll submit a self assessment from 6th April each year (if you do ever stop earning, you must let HMRC know or you'll be fined for not submitting a return). They are really easy so don't let that put you off!

Cashback does not need to be declared

 

[snudgerchops]

Hi All,

Just started doing jobs for Bemyeye and going through level 1 on Roamler so should hopefully start earning there quite soon.

Just wondering if anyone who has registered as self employed is doing this in addition to a current full time role? I am, so was wondering how this would affect things.

I've also been using my own car to reach the Bemyeye jobs, has anyone claimed back mileage for this? Does anyone know if you can claim this back as a legitimate expense?

Was just thinking that if you could claim the fuel back that this might reduce the tax that you owe?

Sorry for all the questions.

Thank's in advance.

 

[Jon]

Hi All,

Just started doing jobs for Bemyeye and going through level 1 on Roamler so should hopefully start earning there quite soon.

Just wondering if anyone who has registered as self employed is doing this in addition to a current full time role? I am, so was wondering how this would affect things.

I've also been using my own car to reach the Bemyeye jobs, has anyone claimed back mileage for this? Does anyone know if you can claim this back as a legitimate expense?

Was just thinking that if you could claim the fuel back that this might reduce the tax that you owe?

Sorry for all the questions.

Thank's in advance.

I work full time and earn self employed on top of that

Basically you jusr file a return as you are given the choice to pay the tax normally or they can take it out of your PAYE pay

 

[snudgerchops]

I work full time and earn self employed on top of that

Basically you jusr file a return as you are given the choice to pay the tax normally or they can take it out of your PAYE pay

Hi Jon,

Thank you for the speedy reply.

Looks like I would have to file a return as self employed, no need for my current employer to be made aware of my part time money making scheme.

Self assessment form might take me some time to work through. Do you claim a straight mileage allowance? As I see it if I was to pay myself 45p per mile based on estimated earnings I would probably be due a tax rebate... Would still be in profit though because of the mileage rate.

Thank's again

 

[Jon]

Hi Jon,

Thank you for the speedy reply.

Looks like I would have to file a return as self employed, no need for my current employer to be made aware of my part time money making scheme.

Self assessment form might take me some time to work through. Do you claim a straight mileage allowance? As I see it if I was to pay myself 45p per mile based on estimated earnings I would probably be due a tax rebate... Would still be in profit though because of the mileage rate.

Thank's again

No your current employees didn’t need to know about your self employed work - heck mine only did as I was in a national newspaper all about the Money Shed lol

Not sure on the mileage question I’m afraid - I only do Risk Free Matched Betting and blogging so it’s not something I claim for. @mabozza might know the answer as he travels a lot!

 

[homie]

Hi Jon,

Thank you for the speedy reply.

Looks like I would have to file a return as self employed, no need for my current employer to be made aware of my part time money making scheme.

Self assessment form might take me some time to work through. Do you claim a straight mileage allowance? As I see it if I was to pay myself 45p per mile based on estimated earnings I would probably be due a tax rebate... Would still be in profit though because of the mileage rate.

Thank's again

Yes, 45p a mile.

So for an example Roamler day:
3 jobs @ £4 each = £12
Miles travelled = 10 @ 45p per mile = £4.50

Total income minus expenses = £12 - 4.50
= £7.50 profit to pay tax on.

I think thats how it works

 

[mabozza]

yeah it is 45p a mile for 10,000 miles thereafter it is 25p/mile.. i dont actually claim many miles because i am using my work van for the bulk of my tasks i only claim on ones i do in my own vehicle

 

[PlateSpinningFrenzy]

Hi guys. What’s the going rate for printing costs (per page) as I believe I can offset as an expense too?

 

[katykicker]

Hi guys. What’s the going rate for printing costs (per page) as I believe I can offset as an expense too?

I've never seen a price per page mentioned, just that you can claim for a printer, and ink and paper etc. So you'd just declare that in the tax year you bought it.

https://www.gov.uk/expenses-if-youre-self-employed/office-property

 

[PlateSpinningFrenzy]

Ah I see. I already had my printer. Some of my mystery shopping paperwork regularly spans 4-5 pages though so want to claim that back. Might look up the going rate for copier costs if no-one does similar and has a reasonable cost per page.

 

[jollyjelly]

Looks like you can claim stationery - maybe that means you could work out cost per page of paper and try work out how much the ink costs per page?

 

[usa1]

I never declare mine - The Tax man gets enough of my money as it is.

Plus the Tax office hardly cares about a few Amazon money-off codes (which is just a marketing slight-of-hand) & some B&Q vouchers

 

[Queen Jess]

You'd have to include the cost of the drink as an expense then include the reimbursement as an earning - they cancel each other out so you're only left with the profit.

Keep the receipts incase HMRC want proof.

Please register really early. Although filling in the actual form is stupidly easy (mine takes under 10 mins) and you can do it all online, the actual initial registering process takes ages and is totally confusing. I seem to remember you have to wait almost two weeks for them to send you info in the post before you can even log in.

 

[Queen Jess]

I never declare mine - The Tax man gets enough of my money as it is.

Plus the Tax office hardly cares about a few Amazon money-off codes (which is just a marketing slight-of-hand) & some B&Q vouchers

Yes they probably don't really care that much about small amounts, but in theory anything above the yearly limit you should declare. I never even realised that they are always guessing your tax throughout the year for your main job. When I started submitting a tax return, each year they seem to get it wrong. In the past three years it always turned out that they owed me money!

Mind you, I did change jobs in the middle which I just knew would mess things up.