Always check your contract
It’s unlikely, but some employment contracts may prohibit you from freelancing or taking on additional employment on the side. Before considering freelancing you should check that this is not written into your contract as you do not want to jeopardise your job or potentially damage your reputation in the industry.
What expenses can you claim as a sole trader?
A sole trader is someone who works as self-employed without operating through their own company or partnership. As a sole trader, you can offset certain business expenses against your income and you will only be taxed on your self-employed profits. The general rule of thumb is that you can only claim expenses on costs that are wholly and exclusively incurred for business.
Declaring income earnt from freelancing to HMRC
If you get paid more than £1,000 during a tax year and plan to further your freelancing career, you need to register online and complete a self-assessment tax return to declare your income.
You can register here.
You are required to declare your freelance earnings each year by the 31st January deadline following the end of the tax year on 5th April. Unlike the income earnt from your permanent employment, the money you earn from freelancing is untaxed and it will need to be declared to HMRC. https://www.fieldengineer.com/blogs/where-to-find-freelance-jobs-online
The amount of tax and National Insurance Contributions (NICs) that are due will depend on how much you earn as a freelancer and how much you are paid in your full-time job.
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