HELP!!!! 2nd job advice

lippylipalaurax

Hey all!

Wondered if you can help.

Have a meeting on Monday to see if i want to become an ann summers host. Benefits sound great (as they normally do before you read the small print!!)

I'm in full time employment but my boyfriend and I are trying in vain to try and get a big deposit for our future house.

How does the tax and stuff like that work if im in F/T employment (£20k) already?

I'm really not clued up about ANYTHING like this. :mad:

My friend who is a rep has said that i would have to sort all my taxes out as AS will not do this for me. If i become self employed - can i do this only in the 2nd job? Obviously with the market the way it is i really do not want to be going self employed in my F/T job. (construction market!)

Has any one got any information on this? I'm so confused i have probably confused the rest of you with my jibber jaber also!! :eek:

Thanks in advance for any info you can offer! :beer:

CLAPTON

your fulltime job can stay exactly as it is now... indeed they wouldn't even know you have a second job.


your second job can be self employed.

-you need to tell the HMRC within three monthes of starting
-unless you have low income exemption you will need to pay NI weekly contributions by DD

-your tax will be at 20% on your profit
-you will be sent a tax form in April 2009
-you need to complete the form by october 2009 if you want them to work out the tax
-otherwise you have until jan 2010 to return the form and the payments.
-you will be able to offset your costs against your income before working out the profit and hence the tax due

tyllwyd

Before you sign up, have a good look at the costs. I've never done Ann Summers, but in general with these kinds of jobs you need to have a look at the start up cost of the kit, any annual registration charge from AS, the commission per item, the cost of hostess gifts, postage and packing on orders, cost of phonecalls/petrol, any insurances needed. So if you did a party, it took you, say four hours on the evening, one hour to put in the orders, three hours to sort out the delivery and get the stuff to your customers, you would have worked eight hours, so you'd need to be looking at, say, at least £44 profit to have acheived the equivalent of minimum wage.

In my experience (with a different party plan company), I'd say don't sign up unless you are very committed to doing it at a steady level for a reasonable amount of time (maybe a year) - otherwise the start up costs mean that you can easily end up losing money.