Due to recent income reduction at my paye job i have decided to take
the oppurtunity to earn some extra money by Djing. Am i correct in saying
that I would be looked on as a sole trader and have to do a self assesed tax
return by oct 31 for the previous year ie. 31/10/10 for 09? Is it then possible
to use receipts for cds, mp3s, equipment, fuel and other costs to reduce my
tax bill? I would envisage earning a good bit less than 1000 per month unless
it goes very well. I also currently am in the higher tax bracket as a paye
worker. I appreciate any help. cheers
the oppurtunity to earn some extra money by Djing. Am i correct in saying
that I would be looked on as a sole trader and have to do a self assesed tax
return by oct 31 for the previous year ie. 31/10/10 for 09? Is it then possible
to use receipts for cds, mp3s, equipment, fuel and other costs to reduce my
tax bill? I would envisage earning a good bit less than 1000 per month unless
it goes very well. I also currently am in the higher tax bracket as a paye
worker. I appreciate any help. cheers