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Advice needed!


aiden keay

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Hi everyone,

Although I am not making alot of money as of yet and the work is a sporadic, but I was still going to register myself as self employed and just need advice on how to do this and how I pay my tax and say I dnt work for a week do I still have to pay a set amount of tax ?

Thanks

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er not that i an expert but yes when starting out it is hit and miss until you have enough base work to keep you going...something i am just about at after two years...

 

its easy to do online...providing you can remember your passwords...login..unique tax payer number ..and you just enter amount earnt over the year and they just tell you what you have to pay...and also they give you time to pay if you ask.

hours in or out of work dont really matter....its income that counts..and of course dont forget the expenses...dinner at the local to get business etc...oh better not try that one...:cool:

 

hey i a numpty if i can do it so can anyone....

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Right so the tax is just payed at the end of the year then ? And I was just wondering cos I work nights at a hospital so I will have to pay tax on all my earning because I already getting around the 22,000 from that night job

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The HMRC website is where you want to go. Register & keep details (particularly the ID number) in a secure place.

You do just pay tax annually, because of your regular job I think you'll paying 20% on your window cleaning income minus expenses.

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Guest sdrah
Alright then cheers for the help anyway hopefully someone in the same boat as me can help me out:)

 

 

you will have to pay about £3 a week - that's class 2 NIC regardless how much u earn - and at the end of the year fill in your tax return - also there is a section on that form where u can input your employment status and how much you earn .

 

Let say you got £4000 from your ladder job and £7000 as an employee =£11000 - £9940 (personal allowance) so u pay Class 4 NIC for £1060 I think

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Guest sdrah

on the P60 form there is a reference number which needs to copied on the tax return - and I think once you put that information the software knows the tax has been paid from your other job - if you ask an accountant they can definitely help

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Guest boarcity

best to put some money aside every week to cover the tax bill . also i keep my passwords for HMRC and all other stuff written on paper slid into the hem of a curtain. a bank official told me that tip.

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You have to be carefull with those guys and do it all correctlyclear.png

 

I agree. I use an accountant. It cost me £300 per year, but I have the piece of mind that everything is as it should be.

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I don't use an accountant only because I can use access and excel competently enough to do it myself and let it work it all out for me

The bonus is if ever I was audited I just need my receipts and spare usb stick and leave em to it

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The HMRC website is where you want to go. Register & keep details (particularly the ID number) in a secure place.

You do just pay tax annually, because of your regular job I think you'll paying 20% on your window cleaning income minus expenses.

I have look and I just managed to get confused it kept ask me to register a self assessment is that what I need to do ? :S

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