Tax & general financial questions re: self employment + YT

[sudiseek]

Hello! I've been making videos for a few years and thanks to help from a lot of resources, especially from this forum, have helped me get to the point I am "making" money from YT! I was wondering how I should go about paying income tax on this - I work self employed part time so already registered with HMRC etc etc - do I just add the YT income on top of my job income or do I register again? Can I still use sites like this tax calculator ( salary-calculator.org.uk ) to figure my income out? (i.e. are the income tax bands just a blanket over all income or different for each source). Not too sure how it works with multiple points of income - not hugely worried about it now because it's such a trivial amount to go after but definitely want it sorted sooner than later.

Thanks in advance, and sorry for the wall of questions!

 

[UhoohExtra]

If your self employed you don't have a 'job' already.. as you say. Jobs are for people that depend on an employer to put money in their pockets. If your self employed with your UTR thats it. already done. It doesn't matter where the income comes from or if their are multiple sources of income. Its all the same. You just declare what you get as income all combined. Multiple sources of income make you 'truly' self employed with some proper financial security the more you have the better.
Your question tells me you need to be getting a accountancy firm (an accountant not bookkeeper) to be managing this and your self assessments for you. Should cost £30-50pm. If your doing it yourself your not necessarily saving any money!

 

[Crown]

Hello! I've been making videos for a few years and thanks to help from a lot of resources, especially from this forum, have helped me get to the point I am "making" money from YT! I was wondering how I should go about paying income tax on this - I work self employed part time so already registered with HMRC etc etc - do I just add the YT income on top of my job income or do I register again? Can I still use sites like this tax calculator ( salary-calculator.org.uk ) to figure my income out? (i.e. are the income tax bands just a blanket over all income or different for each source). Not too sure how it works with multiple points of income - not hugely worried about it now because it's such a trivial amount to go after but definitely want it sorted sooner than later.

Thanks in advance, and sorry for the wall of questions!

I assume you're in the UK?

There is an old thread by @Michael that discusses this here: http://yttalk.com/threads/paying-tax-on-youtube-earnings-guide-hmrc-uk.124173/ Although I'm not sure if things have changed.