I appreciate that this will not be a straight forward answer, but hopefully someone can give me some kind of guidance.
Currently I participate in various global events as a BMX Rider, these are at a professional level.
I attend about 25 events per year & I have now started to receive prize money, this can vary from £250 to £2000 per event. My question is, do i need to declare this income, likewise i have expenses to attend these events, so likewise, can i claim these?
Its worth noting, i also film weddings, events etc on a Freelance basis, probably 2 days a week on average where i do of course declare my income
Thanks for any advice you can offer
Currently I participate in various global events as a BMX Rider, these are at a professional level.
I attend about 25 events per year & I have now started to receive prize money, this can vary from £250 to £2000 per event. My question is, do i need to declare this income, likewise i have expenses to attend these events, so likewise, can i claim these?
Its worth noting, i also film weddings, events etc on a Freelance basis, probably 2 days a week on average where i do of course declare my income
Thanks for any advice you can offer