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Tax ....help!

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  • Tax ....help!

    Hi,

    I have only just started up about two months ago....

    I have a full time job as well.....

    and I don't know what to do about tax???

    I'm obviously keeping records of what I'm spending / taking... but do I need to do this in a special way?

    Can anyone recommmend a software package to work in (cheaper the better!)

    and any advice on running my craft business as a second income.

    Many thanks

    Heidi
    Heidi

  • #2
    There are several on the market but the simpler the better. Register with the inland revenue and then when you file your tax return you just enter your P60 details into one section and your self employed into another.

    Back to software I got mine free with my business bank account but you can do a simple spreadsheet. I also have used accountz not that expensive from Amazon. The one I got free is MYOB.

    Looking at MYOB now the price seems to have shot up, so this may be a no go, spreadsheets are free but some of the accounts systems complete your tax return for you, not too sure how advanced you want it to be.

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    • #3
      Thank you... I will check out the software...
      Heidi

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      • #4
        I use Kashflow for my accounting and also keep a folder of paper invoices/receipts which is easy to flick through when filling out your self assessment form.

        I am in the same boat as you with regards to having a full time job aswell as my own business and Caroleecrafts is correct in that you just need to enter your P60 details onto the self assesment form when it does come through.
        I Love Handcrafted

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        • #5
          KashFlow has a really good reputation - MYOB doesn't (recently bought out, and product being phased out in the UK, I believe).

          We use QuickBooks, which we got 'cheap' with our bank account. We will be ceasing to use QuickBooks as soon as I have the chance to migrate us to another system - it is truly, deeply pants. So avoid that one!
          --Matt

          Web Development
          Beads, Charms & Findings - Jersey Craft Shop

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