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Spacette View Drop Down
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    Posted: 10 June 2011 at 8:42pm
Has anyone been in the position where they're earning a little bit of freelance $ and had to make that work with an earning threshold?

Basically we are living (carefully) on DF's student allowance + p/t earnings while I'm at home with A, and he earns about as much as we're collectively allowed to before the allowance starts going down again. Which is fine. But I periodically do some random freelance stuff (writing + performing), which is declared at the end of the year along with the expenses and is then taxed accordingly. Consequently it's hard to let Studylink/WINZ know an exact amount actually earned weekly until the end of the year when it's all sorted, but I'm scared of getting a big bill at that point.

The easiest answer is probably 'don't earn anything!' but it's generally stuff that's handy for portfolio etc. Or to keep it all untouched in an acc until then, but that could be tricky too .

Just thought I'd ask anyway in case someone has been in that position.
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choco69 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote choco69 Quote  Post ReplyReply Direct Link To This Post Posted: 10 June 2011 at 9:42pm
i know others who have done that - particularly as studylink get so easily confused if your money earnt is not the same every week - assume your earnings won't be really huge - the only way you will get a huge bill is if you cross the income threshhold for the year - which I think is 38,000 then you shouldn't be hit with a tax bill

the only other way is to declare as you go - so each time you earn some money you declare it for that week (probably easier to ring and declare than use the silly online thing)

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Post Options Post Options   Thanks (0) Thanks(0)   Quote High9 Quote  Post ReplyReply Direct Link To This Post Posted: 10 June 2011 at 11:10pm
Originally posted by choco69 choco69 wrote:



the only other way is to declare as you go - so each time you earn some money you declare it for that week (probably easier to ring and declare than use the silly online thing)


I'd do this too but be warned... Every time I ring I get a message that they're either over loaded and can't take my call so do it online or I sit waiting for over 20 mins! Really frustrating!

GL!
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Spacette Quote  Post ReplyReply Direct Link To This Post Posted: 11 June 2011 at 12:01pm
Cheers! Yeah, they're pretty dopey understanding even 'normal' income, that's the problem. And that I don't know what my actual income is until all expenses off. Maybe hanging on to it every few months and then declaring would work.

No, it won't be near 38k. But I know if I earn it does come off DF's allowance fairly directly (hence holding off on returning to p/t work!).
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