Self-employment

Originally Posted by specialone

You will have to file a return for now up until April 5th if you started now.
Online submissions are dead easy if your turnover is less than £15k, simply expenses in one box, takings in another, they work it out for you.
Take you 10 mins, but you will need to apply for an online code and password.

Simple if its under 68k too Phil.

Originally Posted by sv4me

Maria i'm a chartered accountant i'm not advertising my services here as such, just if you need a helping hand with anything then feel free to PM me with any questions and i'll do my best to help

The HMRC and business link websites offer some good advice

Thankyou I have been reading up as much as possible, particularly the HMRC site but there's always some niggling little questions you don't get answered on there.

Thanks for the tips fellas. I'm probably just overthinking stuff as usual

Originally Posted by speedplay

Simple if its under 68k too Phil.

Vat bracket ?
They are more complicated over £15k cos you have to break everything down and not just put it all together in one pot.

Originally Posted by specialone

Vat bracket ?
They are more complicated over £15k cos you have to break everything down and not just put it all together in one pot.

Not VAT.

Theres a self assessment (short) form too. (sa103s)

States that if your return is a simple one you can lump it all together.
Mine this year was all fuel, mobile and hotels so was really simple.

[sv4me]

Originally Posted by missyorkie_chris

Thankyou I have been reading up as much as possible, particularly the HMRC site but there's always some niggling little questions you don't get answered on there.

Thanks for the tips fellas. I'm probably just overthinking stuff as usual

Its only natural when starting out to be nervous as long as you're organised and well motivated I think being self employed can be more rewarding than normal employment, both satisfaction wise and in monetary terms. I helped a mate in manchester incorporate in november, he has asked me 3x since then when theyre going to have to pay corporation tax. Explained 3x not until September 2012 at the latest so stop stressing!

I've told him to concentrate on what hes doing and leave it all to me, thats what he pays me for! He's listening to me,for the time being at least

Originally Posted by speedplay

Not VAT.

Theres a self assessment (short) form too. (sa103s)

States that if your return is a simple one you can lump it all together.
Mine this year was all fuel, mobile and hotels so was really simple.

I can't do that cos my stuff is complicated, conservatories, kitchens, bathrooms etc etc loads of materials.

Originally Posted by sv4me

Its only natural when starting out to be nervous as long as you're organised and well motivated I think being self employed can be more rewarding than normal employment, both satisfaction wise and in monetary terms. I helped a mate in manchester incorporate in november, he has asked me 3x since then when theyre going to have to pay corporation tax. Explained 3x not until September 2012 at the latest so stop stressing!

I've told him to concentrate on what hes doing and leave it all to me, thats what he pays me for! He's listening to me,for the time being at least

We're talking about self employment here, not directorship of an incorporated company

Originally Posted by specialone

I can't do that cos my stuff is complicated, conservatories, kitchens, bathrooms etc etc loads of materials.

bless....


I hate doing my assessments.

Its depressing to know I've spent £3850 on fuel for work, £1077.91 on my work mobile ect ect...

[sv4me]

Originally Posted by EssexDave

We're talking about self employment here, not directorship of an incorporated company

Yeah sorry that was just an example to Maria shes not the only one who stresses about these things

As much as I love his constant emails i prefer him being like that and bordering on overly conscientious, its the ones who seem to take little interest in the business side of things that fail

Originally Posted by speedplay

Its depressing to know I've spent £3850 on fuel for work, £1077.91 on my work mobile ect ect...

So walk more and talk less


Will have a chat with the tax office beginning of next week and get them to answer me niggling questions. I figure they can tell the difference between someone genuinely wanting to do everything as honestly as possible as opposed to someone out for what they can get.