aGiles

Interesting, I'll look into contacting HMRC to figure out exactly what I should owe. I'm curious, would I be able to put the expenses for band stuff against my main income? Exactly what I'm trying to avoid! Any profit we make as a band is pooled together and put back into our expenses some way or another, technically none of us individually profit from it but all the money comes in and out of another account with my bank I made, which is why I'm getting a bit finicky about it! Thanks to all of you!

Hi I'm part of a small band, and we make a little money selling our records, gigs etc. The money we spend on recording, practice sessions etc is way more than what we get but I'm still intrigued - does this money count as taxable income, and should we be getting taxed on it? This tax calculator website I've had a look at says I'm just over the first tax band (full time student, part time work) so should be taxed on any income I get. Is this even worth putting brainpower into? Never really had more than one point of income so have no idea how all this works Thanks!