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Self employment info needed.
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Charlie1986
Posts: 584 Forumite
I am thinking of making things and selling them over the internet. I have a full time job already so this will just be to make some more money. Do i have to register as self employed as i already have a job? Also do i need to pay extra tax/NI contributions or anything else? Would i have to keep a note of my spending etc?
Thank you for any help recieved
Thank you for any help recieved
Virgin CC=£2652, Next= [STRIKE]£102.88,[/STRIKE] Very=£475.60, Natwest=£800, Sainsburys CC=£1777.02, Lloyds CC=£498.29, Lloyds Loan= £13,946.18, Car=£4000Total = [STRIKE]£26,147.23[/STRIKE] £23,849.09:eek:
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What kinds of things are you thinking of making? jewellery? kit-cars? How often?
The general rule is that yes if you start production and sale of items for profit, then you should be registering as self employed and keep records of not only your income from it but also all the expenses (materials, etc.) that occur due to it.
Some reading for you;
HM Revenue & Customs: Starting Up
Hope that helps
Also, you could do a search in this forum as many questions like yours have been asked, many quite recently...
"Part P" is not, and has never been, an accredited electrical qualification. It is a Building Regulation. No one can be "Part P qualified."
Forum posts are not legal advice; are for educational and discussion purposes only, and are not a substitute for proper consultation with a competent, qualified advisor.0
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