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bigduckontax
bigduckontax, Accountant
Category: Tax
Satisfied Customers: 4203
Experience:  FCCA FCMA CGMA ACIS
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I have been working part time just 10 hours per

Customer Question

I have been working for myself part time just 10 hours per week for a couple of years but I have not registered this income as it is well under the tax threshold but I am now entering employment and I am worried that the above will be exposed, what should I do?
Submitted: 2 years ago.
Category: Tax
Expert:  bigduckontax replied 2 years ago.
Hello, I am Keith, one of the experts on Just Answer, and pleased to be able to help you with your question. You should make your peace with HMRC, register for self employment and declare your income. It is unlikely that that the Department will impose any penalty for non declaration as there has been no loss of revenue. In fact your new employment will not expose anything, but a non declaration could be construed as tax evasion, particularly if you have a PAYE job elsewhere, so just sort it out; the quicker the better. I do hope that my reply has been of assistance.
bigduckontax and other Tax Specialists are ready to help you
Customer: replied 2 years ago.

OK but I can only find records for this year and last year?

Expert:  bigduckontax replied 2 years ago.
Then you will have to estimate earnings for the relevant returns. The form provides for this and if you are under the tax threshold no one will be the slightest worried; it happens every day.
Customer: replied 2 years ago.

Thank you for your prompt reply. You have reassured me.

Expert:  bigduckontax replied 2 years ago.
Delighted to have been of assistance. Please be so kind as to rate me before you leave the Just Answer site.
Expert:  bigduckontax replied 2 years ago.
Thank you for your support.
Customer: replied 2 years ago.

Hi if I cannot provide records, will hmrc ask for my bank statements over the past five years that I have been working? I am not sure whether to own up to working for myself for just this current tax year or be really honest and tell them I started in 2010?

Expert:  bigduckontax replied 2 years ago.
Just come clean and be really honest. Where HMRC are concerned honesty is the best policy. There will be no problem as no revenue was due. In your no tax situation an investigation by HMRC is, frankly, unlikely. That Department has far better fish to fry.
Customer: replied 2 years ago.

Many thanks. Once again you have reassured me.

Expert:  bigduckontax replied 2 years ago.
Delighted to have been of assistance.