Network installations in spare time - need tax advice?

Discussion in 'The Off Topic Lounge' started by Hosly95, 1 May 2018.

  1. Hosly95

    Hosly95 Member

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    Hello! I do some network installation and other work involving networking freelance, but more as a hobby than for an actual income source as I already work full time (playing with someone else's gear is often as fun as playing with your own! :D) I read a while ago that you get a £1000 allowance for hobby income - would this still apply to me even though I am doing work for actual companies and not myself? I'm not totally sure how it works and could use some resources but can't find any so far. According to this income tax calculator any income I am only just over the higher tax band, so surely any other money I make would be taxed at 40%? Hoping someone here will know what they're talking about and can point me to where I need to look. Thanks in advance! :)
     
  2. allanp

    allanp Member

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    Just one interesting fact about tax: Bridgeport carries the highest overall tax rate in the nation. Wealthy taxpayers earning over $150,000 per year are on the hook for up to 22% in state and local taxes.
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