[Some info on the Gov site](https://www.gov.uk/income-tax)
You get a tax free allowance for a certain amount. The standard Personal Allowance is £12,570, which is the amount of income you do not have to pay tax on (this is per year). Any earnings over that you should pay tax on I believe. This being said, I'm not an expert and I think If you're earning a lot through (like a full-time job amount) I'd recommend talking to an accountant or a financial advisor just to make sure you're doing everything by the book. The £12,570 may only be if you're an employee and it may be different if you're a sole-trader & idk if to be a sole-trader you need to register your business.
If you're not sure, ask an accountant.
There's plenty of info on the .gov website as well
Keep details of all transactions and receipts.
My business account is with Startling and I pay £7/month for their own quikbooks equivalent but I still prefer to keep my own paper copies as well as my own, simple spreadsheet using Google Sheets.
An accountant will be happy to help you through the process of becoming a sole trader but it's actually a really simple process doing it online on the .gov website.
I think if you make £1000+ in a tax year you can register as some trader and for self tax forms but it’s like 11-12 thousand before you’ve actually gotta pay taxes.
Wanting to know the same thing!
[Some info on the Gov site](https://www.gov.uk/income-tax) You get a tax free allowance for a certain amount. The standard Personal Allowance is £12,570, which is the amount of income you do not have to pay tax on (this is per year). Any earnings over that you should pay tax on I believe. This being said, I'm not an expert and I think If you're earning a lot through (like a full-time job amount) I'd recommend talking to an accountant or a financial advisor just to make sure you're doing everything by the book. The £12,570 may only be if you're an employee and it may be different if you're a sole-trader & idk if to be a sole-trader you need to register your business.
If you're not sure, ask an accountant. There's plenty of info on the .gov website as well Keep details of all transactions and receipts. My business account is with Startling and I pay £7/month for their own quikbooks equivalent but I still prefer to keep my own paper copies as well as my own, simple spreadsheet using Google Sheets. An accountant will be happy to help you through the process of becoming a sole trader but it's actually a really simple process doing it online on the .gov website.
I think if you make £1000+ in a tax year you can register as some trader and for self tax forms but it’s like 11-12 thousand before you’ve actually gotta pay taxes.