Ads

Collapse

Announcement

Collapse
No announcement yet.

What tax?

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • #46
    I would contact them asap with your official start as you only have three months to let them know or you get a fine.
    Emma
    Luxury craft supplies & magnolia Stamps - Sassy Crafts
    Sassy Crafts Blog
    My Blog

    Comment


    • #47
      Oh cripes! What sort of figures are we talking about? Has anyone actually been fined?
      Natalie
      website blog

      Comment


      • #48
        Couldn't tell you the figures as it hasn't happened to me. I did leave it a little late when i contacted them but it was fine. If you do it this week then it will be fine i'm sure. You can do it over the phone to and it doesn't take that long.

        Hope that helps
        Emma
        Luxury craft supplies & magnolia Stamps - Sassy Crafts
        Sassy Crafts Blog
        My Blog

        Comment


        • #49
          So glad I read this thread, have just rung them and registered as self employed Just in time as well!

          They were really friendly and helpful.

          Thanks to everyone that has contributed to this thread, it was very helpful and informative and possibly saved me a fine!

          Comment


          • #50
            I've registered as self employed with them too, they took a few weeks to send a letter out to acknowledge my registration though - typical IR from my experience

            Another thing to bear in mind, if you are also employed and are doing your crafts in your spare time ( as I am), if you make a loss through your craft self employment, you can use that loss to get a tax rebate on the tac you pay in your employment - it's not all that difficult to work it out, and if you file online it calculates it for you that's the option I choose.

            Self assessment forms look daunting at first glance, but they are pretty easy to fill in, especialy if it is just for 1 craft business, and another employed job.

            Claire
            Website; www.midshiresmakers.co.uk
            Facebook Pages: www.facebook.com/weedoncraftmarket
            www.facebook.com/craftshoppingexperience

            Comment


            • #51
              I always heard that tax returns are a nightmare! I'm glad to hear someone say that they aren't too difficult.

              Comment


              • #52
                No they're not all that difficult really, I think the words Tax, Inland Revenue, Tax Return etc strike fear into the hearts of most people though - myself included

                I've been doing the tax return for OH's business for the past 5 years, have previously been self employed / employed at the same time and had to do one for myself, and am now self employed yet again!

                I don't profess to know all of the current regulations about tax, or be a qualified accountant, but if anyone wants any general advice on tax records and self assessment please feel free to ask.

                Claire
                Website; www.midshiresmakers.co.uk
                Facebook Pages: www.facebook.com/weedoncraftmarket
                www.facebook.com/craftshoppingexperience

                Comment

                Working...
                X