As a self employed & employed person myself, I do everything by the book: Tax, VAT, the lot, but I'd advise you not to bother. With ?5k either way, the paperwork isn't worth it. If you declare a second income, you also have to pay a second class 5 national insurance contribution, or declare exemption, and you will also make yourself liable to tax inspections, as well as the additional work & maintaining turnover below the VAT threshold. Trust me, I know! As a higher rate taxpayer, you're not of any interest to the taxman for any further liability unless you stick your head above the parapet, but I admire your honesty.

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