Hide
Earn under R350,000? Click here to see why you still need to file to get your Tax Refund.
CLOSE
Get SARS Tax Dates and Deadlines in your Inbox
 

We'll tell you when you need to file, along with tax tips and updates.
Try Tim Now

UK FUNDS RECEIVED MONTHLY HOW DO I LESSEN TAX IMPLICATIONS?

Posted 21 April 2015 under Tax Questions

Hi, I'm Tim!
I'll help you do your Tax Return with Confidence
Quickly, Easily
And Correctly
Do your Tax Online with Expert Help from Me, Step-by-Step.
LEARN MORE

Blog Categories


Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk →
CAT says:
4 April 2015 at 10:32

I am a full time employee in South Africa but do part time work after hours for a solicitor in the UK - she pays me £300 per month which equates to about R5600 per month (depending on exchange rate). How can I lessen the tax implications on this amount? Do I need to pay tax on this amount and declare it as a additional income on my return?

This entry was posted in Tax Questions and tagged , . Bookmark the permalink.

TaxTimTaxTim says:
6 April 2015 at 17:47

Yes you do need to pay tax, you also need to declare yourself as a Provisional Taxpayer Any expenses you incur in earning this income will be allowed as a deduction though so you can claim these when completing your ITR12 Income Tax Return.


CAT says:
8 April 2015 at 0:06

Very helpful thank you very much. It would've helped if SARS explained this to me 8 months ago when I phoned to query!! What expenses can be claimed? Bank charges etc?


TaxTimTaxTim says:
11 April 2015 at 13:00

You would be able to claim any expenses which you incur in order to earn that income. We can suggest keeping a separate bank account for that income to be received into and then charging any of the related expenses to it so that you can deduct these and demonstrate them to SARS.


Get SARS Tax Dates and Deadlines in your Inbox
 

We'll tell you when you need to file, along with tax tips and updates.

Blog Categories


Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk →

Hi, I'm Tim!
I'll help you do your Tax Return with Confidence
Quickly, Easily
And Correctly
Do your Tax Online with Expert Help from Me, Step-by-Step.
LEARN MORE