Ok, I am aware that pretty much everyone in the US self assesses tax returns but here in the UK the default is that your employer does all the messing around with forms and stuff so we tend to not bother with it unless we are self employed... as a result of working in this environment for all my life I now find myself completely incapable of knowing what to do about my own taxes...
Situation is: Am in the process of getting two short stories published by different US publishers. Not expecting anything like a massive income but there will be an income and if things continue this income may get greater as more stories are published...
Now, I am getting the whole ITIN situation under control (been sent a lot of info by one of the publishers and will be acting on it as soon as I get an official letter from them saying they intend to publish) so I should not be getting any hassle from the US side of things. However, I am not sure what to do about the UK side of things.
Obviously, I will need to be on self assessment in order to officially declare my income from these royalties... but I will also be working on more traditional 9-5 jobs throughout the year and these will have their own tax returns which will, presumably, be dealt with by my employers still...
So, does anyone know how this is usually handled? Do I have to self assess for both sources of income? Are there any members here who have been in the same situation and have some advice on how to handle it? In fact any information anyone here has on any aspect of this would be useful...
Thank you in advance...
Situation is: Am in the process of getting two short stories published by different US publishers. Not expecting anything like a massive income but there will be an income and if things continue this income may get greater as more stories are published...
Now, I am getting the whole ITIN situation under control (been sent a lot of info by one of the publishers and will be acting on it as soon as I get an official letter from them saying they intend to publish) so I should not be getting any hassle from the US side of things. However, I am not sure what to do about the UK side of things.
Obviously, I will need to be on self assessment in order to officially declare my income from these royalties... but I will also be working on more traditional 9-5 jobs throughout the year and these will have their own tax returns which will, presumably, be dealt with by my employers still...
So, does anyone know how this is usually handled? Do I have to self assess for both sources of income? Are there any members here who have been in the same situation and have some advice on how to handle it? In fact any information anyone here has on any aspect of this would be useful...
Thank you in advance...