Doing a nixer

[squibs]

Hi. I'm new. Hope this is the correct location to post this query.

If I, as a fulltime employee, do a job for somebody in my spare time (no conflict of interest involved), am I entitled to deduct legitimate expenses from my gross payment, before I caculate how much I owe the government? I assume I just declare this in a form and submit 42% of my net profit?

 

[ClubMan]

Does [broken link removed] help at all?

 

[squibs]

Thanks for the link, but it doesn't seem to have the info I need - i.e. am I liable for tax on my gross revenue for the nixer, or for the net after I subtract legitimate costs incurred doing the job.

 

[WizardDr]

You are able to deduct expenses on 'an incurred basis' that are wholly and necessarily incurred.

This in effect direct expenses related to the job. You could not for example claim outrageous civil service rates but you could claim the fuel.

Does that help?

 

[squibs]

That's what I was looking for. Thanks WizardDr.