When does casual income become declarable...?

[Arif110]

Hi all,

Over what threshold is one obliged by law to declare extra earnings (I'm in normal full-time PAYE employment currently)??

E.g. the weekend mechanic who services friends's and families' cars for some basic money.

Thanks in advance for your help,


Arif

[Arif110]

I assume also that life and my tax burden would be simpler/less if I simply operated on the basis of a sole trader? I do have a limited entity set up – incorporated, nothing else – but suspect that in order to benefit from the limited liability status, I’d be running into more aggravation than a small second income is worth?

Thanks for all the clear-cut replies so far - much appreciated!

[Arif110]

Okay - thanks all - brilliant and helpful as ever.