K
ka4at
Guest
Hello Everyone
I would be grateful if someone could clarify the following issue for me
I am currently in full time employment and have been for the past 5 years. My tax and NI is done by PAYE so I don't have to worry about self assessment tax returns
My query is, I created a website for a small company during my student years ( free of charge ) and over the years this company has grown in business due to the help I provide. As a kind gesture they said that at the end of this year they well give me a percentage of the profit. It is going to be in the region of £9000. This money is more like a thank you gift
I want to know how I would go about declaring this money once I have it and the percentage of tax / NI I would need to pay on it as well as what forms need to be filled in
Please bear in mind that this is not a business I do as I am quite happy with my full time employment neither is it something I do part time
Many thanks for your help
I would be grateful if someone could clarify the following issue for me
I am currently in full time employment and have been for the past 5 years. My tax and NI is done by PAYE so I don't have to worry about self assessment tax returns
My query is, I created a website for a small company during my student years ( free of charge ) and over the years this company has grown in business due to the help I provide. As a kind gesture they said that at the end of this year they well give me a percentage of the profit. It is going to be in the region of £9000. This money is more like a thank you gift
I want to know how I would go about declaring this money once I have it and the percentage of tax / NI I would need to pay on it as well as what forms need to be filled in
Please bear in mind that this is not a business I do as I am quite happy with my full time employment neither is it something I do part time
Many thanks for your help