Freelance work: Tax etc

[Delvis]

Hi all

Potentially doing some freelance work on the side, and I'm not registered as a ltd company or anything, so I was just after some basic info of what I would be looking at in paying tax for the work carried out and how I would go about making sure I'm not shafted by Mr.Tax Man.

From what I know, HMRC are trying to crack down on none ltd company freelancers? Therefore, can anyone shed some light on how I would go about paying tax and/or any other charges I may be liable to paying...

Naturally it depends on each company I presume?

Many thanks all

 

[gord]

Do you work full time for a company? To save myself hassle when I did one off pieces of work I rang up HMRC and declared the amount earned to them so they could add it onto my tax code. They're not particularly keen on this anyway, so if you're doing regular freelance jobs then this probably isn't the best solution. You can only do it up to a certain amount.

http://www.hmrc.gov.uk/incometax/non-paye-income.htm

 

[Delvis]

I work full time normally yes, just I'm only pro-rata so have six weeks off work.

From what I can tell, you can fill in an online self-assesment or something? Then either pay it via tax in your next pay check (as you've mentioned) or pay it off in a one lump sum? I'd probably rather do the latter

EDIT: The limit you mentioned is £2500 apparently