OTHER TAXABLE INCOME OR A TRADE
Scenario is as follows;
Teacher employed by local authority on two days per week (at normal teacher salary)
Takes on another 2 days in relation to a short term project.
Both aspects paid by coucil under PAYE.
Then, funding budget for the short term project is moved to another school in another local authority area.
They have asked him to submit invoices as he will not be under PAYE.
This will be a short term thing as will end after say 8 months. He will retain original 2 days per week on PAYE
Project is say £250 per day so could be circa £2,500 per month.
Box 16 on Self Assessment as other income (and I guess no Class 4 NI)
A trade with Class 4
- Checking a contract 277 8
- Flat Rate Scheme 292 15
- Fee agreed but client disagrees on amount 714 9
- Altered PAYE cheque 208 5
- deleting customers on Sage 50 148 7
- VAT on garage rent 313 14
- Value-shifting 52 1
- Pattern for CTA 201 4
- Debiting private use proportion to directors loan account 439 18
- SDLT exemptions/reliefs 76 2
- Incorrect Accounts. Is it worth taking action against the old accountant? 198 3
- Film Partnership Enquiries - am I just unlucky? 225 5
- EBT 173 1
- Tax deductable portion of home rental cost 160 8
- Giving a seminar 523 28
- Joint Filing Help 100 1
- ICAEW student, Dilema with client & boss 2,224 32
- Interest on Loan to a Company 251 2
- Writing off bad debts 181 4
- Added years superannuation 59 1
- Desperately seeking Susan, Sam or anyone with any other name 1,202
- Experience with Islamic investor following Sharia-compliant rules? 600
- Darwinpay Partnership Assessment 404
- S464A Charge to tax: conferring benefit & BIK 310
- Bank interest in 'near' facility recall situation 191
- Agent fees to sell business 186
- Alphabet shares 184
- ACCA continuity of practice arrangement needed 180
- Quirky thread of the year: Community Awards 160
- VAT codes In Sage. Am I correct? 158