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Income from bands... help?!

Discussion in 'Musicians Discussion' started by Mouton, Sep 5, 2018.

  1. Mouton

    Mouton New Metal Member

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    Hi!

    I'm part of a local metalcore band in Oxfordshire and we're starting to make a little money from gigs (just about covers the beer after - however income is income and the tax man wants a slice no matter). I am already self employed by other means & am declared to HMRC as such, but how should I go about declaring the income? Do we all have to register as self employed & declare it? Or should we just not bother, as it's a trivial amount of money to go after, and none of us actually pay income tax anyway (under personal allowance threshold)? I've looked at this salary calculator and while I'm really close to the first tax band, I can probably get away with it this year. Anyone else been in a similar situation?

    Thanks!
     

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