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« on: February 07, 2021, 17:19 »
Hi,
I was wondering what people in similar situation to myself do in terms of declaring tax if they are doing this as a second job to their main job which you pay 40% tax on your salary.
Whether you just do an online self assessment as a sole trader or have set up a limited company and pay an accountant to do your return and only pay the 19% tax?
From what I have read online a limited company involves a bit of paperwork only an accountant can do which you would have to pay for but on the flip side you only pay 19% tax as opposed to a sole trader I would have to pay 40% due to my main income salary of my main job (loosing 40% of such a small side income would be very painful!). Thanks, appreciate any replies.