Figures from GOV.UK
Referral income tax UK: the GOV.UK thresholds quoted
Updated
These are the thresholds as GOV.UK publishes them. Whether and how they apply to your referral bonuses depends on the rest of your income.
- Trading allowance: a tax exemption of up to £1,000 a year for individuals with trading income.
- Self Assessment: gross trading income over £1,000 means registering for Self Assessment.
- Personal Allowance: £12,570, the amount of income you do not pay tax on.
- Class 4 National Insurance: payable if your profits are more than £12,570 a year.
Not a calculation
This page quotes thresholds and works nothing out. A tax adviser or HMRC can tell you how they apply to you.