Extra work tax questions

RockLobster · 9 Sep 2016 at 16:34

Hi

I've completed a development project. It's a one off project and I'm ready to invoice the company it's around £5000.

I'm on PAYE as my normal job so for this work I assume I just submit a self-assessment tax return? Can I claim any expenses back?

Rifte · 9 Sep 2016 at 16:36

RockLobster said:
Hi

I've completed a development project. It's a one off project and it came to around £5000.

I'm on PAYE as my normal job so for this work I assume I just submit a self-assessment tax return? Can I claim any expenses back?

Yes, self assessment is the way forward, and expenses yes. With such a little amount of income it is doubtful that HMRC will ask to see your receipts but better to be safe than sorry.

RockLobster · 9 Sep 2016 at 16:37

Rifte said:
Yes, self assessment is the way forward, and expenses yes. With such a little amount of income it is doubtful that HMRC will ask to see your receipts but better to be safe than sorry.

What can I claim back for? Some people have mentioned household bills, etc? If so do I need to attach the bills to the tax return?

RockLobster · 9 Sep 2016 at 16:43

Ok just found this https://www.gov.uk/expenses-if-youre-self-employed/overview

It seems there's quite a lot I could claim for.

Thanks Rifte

booyaka · 12 Sep 2016 at 14:41

RockLobster said:
Ok just found this https://www.gov.uk/expenses-if-youre-self-employed/overview

It seems there's quite a lot I could claim for.

Thanks Rifte

there is a lot you "can" claim for but what you need to actually claim for is "legitimate business expenses" for that one job. Not everything and sundry.