Many people earn small amounts of money from self-employment, often as a side hustle.
If you are registered for VAT, you will need to keep normal business records. The records must be complete, up to date and sufficient to enable you to calculate the VAT due to or due from HMRC.
In most cases, a higher rate of stamp duty land tax (SDLT) applies to the purchase of second and subsequent residential properties in England and Northern Ireland.
The way in which you operate your business determines the taxes that you pay and also your reporting obligations.
