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Joined: Jul 2011
Posts: 8,484
Wiki Veteran
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Wiki Veteran
Joined: Jul 2011
Posts: 8,484 |
I wish i got a grant with wirral buzz when i first whent self employed 
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Joined: Jan 2013
Posts: 196
Enthusiast
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Enthusiast
Joined: Jan 2013
Posts: 196 |
I presume you know what you are letting yourself in for registering as self employed. Can get quite complicated with NI stamps and tax. I made the mistake of registering for Self Employment rather than self assessment-- i quickly cancelled it when i found out the amount of paperwork. There is no clear definition of self employment so some of the work i do i just declare as casual earnings on self assessment and pay normal tax. Not got a clue at all. 
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Joined: Jul 2012
Posts: 2,518
Forum Master
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OP
Forum Master
Joined: Jul 2012
Posts: 2,518 |
I presume you know what you are letting yourself in for registering as self employed. Can get quite complicated with NI stamps and tax. I made the mistake of registering for Self Employment rather than self assessment-- i quickly cancelled it when i found out the amount of paperwork. There is no clear definition of self employment so some of the work i do i just declare as casual earnings on self assessment and pay normal tax. Not got a clue at all. have you not got a comment to make, or do you just quote someone elses to get your post count up.
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Joined: Jul 2010
Posts: 504
Smartchild
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Smartchild
Joined: Jul 2010
Posts: 504 |
Business Link has gone, not sure if there is any help for new startups. Like most people say on here, the main issues are compliance for new businesses around Tax and NI contributions.
You can claim for lots of things especially if its inline with deliveries etc. remember to keep all your reciepts, keep them updated on a simple spreadsheet.
Make a list of what you think will be your major overheads, Fuel, insurance, workwear, servicing costs, tolls, road tax and check with the HMRC site for what you can claim for as self employed.
You can claim over 40p a mile for use of vehicle through your business and cant see why this would be any different for self employment.
If you need a cash flow forecast and somewhere to log your expenses I can sort you out with something in Excel.
I would speak to an accountant and get some advice on what legal status you should adopt.
I pay someone a £100 per annum plus the VAT to do my Self Assesment Form.
K
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More Bins
by diggingdeeper - 19th Jul 2024 11:05am
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