24 Jan 2019, 00:26

@hannahmccaffery It's once you have reached £1000 then you have to declare your earnings by registering self-employed. Just to keep the maths simple. If say you were earning £1000 a month so you got £12000 a year from that. Next year you would pay tax on £150 (£12000-£11850 (your income tax allowance)). Which would be £30 (at 20% base tax rate).

It gets more complicated when you include expenses too or earn over £34,500. Quite often though expenses can get higher than your earnings so then you don't pay taxes and even can get a rebate (Money back off the tax man).