• TAX RETURNS COMPLETED
    TAX RETURNS COMPLETED

    Income Tax Self Assessment & Partnerships: PAYE: CIS: VAT: Corporation Tax

  •  DATA ENTRY SERVICE
    DATA ENTRY SERVICE

    Provided as part of our bookkeeping, or as a separate entity.

  • CREDIT CONTROL
    CREDIT CONTROL

    Invoicing, Statements, Debt Chasing, Litigation.

  • BOOKKEEPING
    BOOKKEEPING

    Provided on a weekly, monthly, quarterly or annual basis.

  • ALL COMMERCIAL ACCOUNTING SOFTWARE CATERED FOR.
    ALL COMMERCIAL ACCOUNTING SOFTWARE CATERED FOR.

    We are experienced with Sage, QuickBooks, Xero, Kashflow, Excel etc.

PAYE & CIS

The task of payroll processing can often divert you from your core business activity. It is our job to help and take the worry and time out of this process for you.....

Read more

Small Company Care Package

Especially designed to help start up and small companies cope with the legislative requirements and get a handle on their finances on a monthly or quarterly basis....

Read more

Ex Pat Service

Designed for British people living abroad, we take care of managing your personal filing obligations to HMRC, the obligations of your British Registered Companies...

Read more

Newsletter

With our newsletter, you automatically receive our latest news per e-mail and get access to the archive including advanced search options!

» Sign up for the newsletter
» Login

Search Archive


Income from selling services online

Source: HM Revenue & Customs | | 06/02/2018

Many taxpayers supplement their income by selling services online. This is often known as the 'sharing economy' or the 'peer-to-peer economy' and usually involves taxpayers renting out something they are not using such as their house (using websites such as AirBNB), car, car parking space or other personal equipment.

It can also involve taxpayers finding customers using specialist websites or apps and doing small jobs either online or in-person. The income raised from these kinds of ventures is usually supplemental to a taxpayer’s main income but this is not always the case. However, HMRC is clear that in most cases this is taxable income and income tax is payable subject to the usual rules.

There are two £1,000 tax allowances for property and trading income that came into force from April 2017.

The £1,000 exemptions from tax apply to:

  • Taxpayers who make up to £1,000 from self-employment, casual services or hiring personal equipment. This is known as the trading allowance.
  • The first £1,000 of miscellaneous income for income from property. For example from renting a driveway. This is known as the property allowance. The allowance is not available on income from letting your own home where a separate relief may be available using the Rent a Room Scheme.

Planning note

There is usually no income tax to pay if you occasionally sell personal possessions online but you may need to pay capital gains tax. However, there are separate rules if HMRC deems your activities a fully-fledged business. Please call if you need advice on any of these topics.



Latest News

Self-employed Class 2 NIC changes cancelled
12/09/2018 - More...
In a surprise move, the government has announced that, following a lengthy consultation, the planned abolition of Class

Receipts to cover certain expenses to be abolished?
12/09/2018 - More...
A new measure to remove the requirement for employers to check receipts for expense claims made by employees using the

How to tell if a tax office email is fraudulent
12/09/2018 - More...
HMRC continues to warn taxpayers to be aware of email phishing scams. Phishing emails are used by fraudsters to access