Advice for son - Additional earnings - Tax and NI
Posted: August 4th, 2020, 11:56 am
I'd really appreciate some pointers on behalf of my son who has asked me for some help.
Son is employed and a basic rate taxpayer. He also works from time to time for companies both in the UK and abroad who just send him a cheque or money transfer. These additional earnings are not particularly significant, so far this year they amount to about £5k.
I assume he'll need to complete the relevant section of the SA form about additional earnings and pay the tax due after allowable expenses, which in his case would be for computer equipment - he works as a games designer. I hope my understanding is correct thus far. But I'm less sure about how NI, how the extra NI is calculated and paid. Any pointers would be gratefully received.
TIA
RC
Son is employed and a basic rate taxpayer. He also works from time to time for companies both in the UK and abroad who just send him a cheque or money transfer. These additional earnings are not particularly significant, so far this year they amount to about £5k.
I assume he'll need to complete the relevant section of the SA form about additional earnings and pay the tax due after allowable expenses, which in his case would be for computer equipment - he works as a games designer. I hope my understanding is correct thus far. But I'm less sure about how NI, how the extra NI is calculated and paid. Any pointers would be gratefully received.
TIA
RC