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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!
     
  2. Zonfar

    Zonfar Member

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    Are you alone in the band making more than 10k a year? Where I live, if you make more than that is when you need to file, otherwise don't worry about it. Also take into consideration your band members too, if you have 4 members, and you are making 10k total year, you still have to split that 4 ways, which would mean you only made 2.5k a year.
     

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