How much money can you earn in the UK before you have to declare it to the inland revenue?

Answer 1

For the average working person in the uk you can earn £97.00 per week before you pay tax.

All income should be declared to HMRC (revenue and customs).
If you don't delcare it, it could come back to haunt you.

Answer 2

Any money earned in the UK should be reported to the Inland Revenue. Whether you have to pay tax on it will depend on your tax code. Most people should be able to earn UKP3,800 (or thereabouts) before they are subject to tax.

Currently I work overseas and so pay no tax in the UK on my overseas earnings. For this to work, I am not allowed to spend more than an average (over a 4 year period) of 90 days per year in the UK, otherwise I will be liable to paying tax on all my overseas earnings.

I still need to declare the interest payments on my UK accounts to the Inland Revenue, as this represents the sum total of my UK earnings at present. However, because this is below my tax threshold, I do not have to pay tax on it.

Answer 3

If you mean earned in employment or self-employment then the only amounts ignored are those less than £1!

Could you be thinking of a hobby which brings you in a small income. If the income is incidental, and by this I mean that you are not operating with the intention of making a profit, then the income does not have to be declared unless it exceeds £800 a year. This figure is gross turnover, not profit. Note that this is not an official limit but is HMRC's current practice.

Answer 4

All earnings shoul be declared but basically you have a personal allowance of £5035. Therefore if you declare this amount you will not have to pay any personal income tax.

Any earnings above this will be taxed, have a look at the website below for more details:


http://www.hmrc.gov.uk/rates/it.htm

Answer 5

The richest people in the western world dont declare their billions, why should you with the peanuts you will make?

Answer 6

if your clever at least £8000