If you have freelance income from more than one profession or vocation (HMRC calls this a ‘trade’), then you must fill in separate SA103 (s or f) forms for each trade.
Further, if you have PAYE income (where you are paid via a payslip and your employer takes out tax), then you need to account for that income, regardless of whether it is the same trade.
Multiple Freelance jobs
Let’s say you work as a Handyman (or woman) through TaskRabbit and drive for Uber on the side.
To HMRC, these are two separate trades and need to be accounted for separately.
Income and expenses for each trade must be separated and cannot overlap. For example, if you drive for Uber and drive for your Handyman job, the miles driven must be allocated to the correct trade and entered in separate forms.
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What if I have a payslip job (PAYE) AND have freelance income
If you get paid through PAYE (Pay As You Earn), you know that your employer takes taxes out of your paycheck. These taxes are paid to HMRC by your employer, so you should not need to pay anything extra.
That said, you do need to tell HMRC about that income which helps determine how much is owed on your freelance income. There are more than 3 million people in the UK who have a PAYE job and make money on the side.
The information HMRC asks for from your PAYE job comes from the P45 or P60 form you received from your employer. If you do not have one, you should request it from your employer. It is their responsibility to send it to you. You may also receive a document called a P11D where your employer will detail any expenses or benefits you received and need to be reported to HMRC.
Let’s complicate matters even more
Let’s say you get paid by multiple PAYE jobs throughout the year, have freelance income, made some money from selling stock and have two rental properties.
Firstly, you sound busy!
Secondly, you will need to fill out a bunch of forms: the SA100 along with supplementary pages, the SA102 for your PAYE jobs (don’t forget your P11D for any benefits or expenses), SA103 (s or f) for your freelance gigs, two SA105 forms for your properties, and an SA108 for each Capital Gain.
For more on HMRC forms, you can visit HMRC’s website which goes into more detail.