Idea for extra income

frugglewump

jesster wrote:

And if it's for a one off final thesis or something i reckon many of them would pay it.

Yes you are right about the overseas students. I see a lot of them - on my MSc module that ran last semester out of 160 students there were 20 UK born.

As I understand it what you really need for this sort of business is repeat custom. The student who can afford to send you all their essays will recommend you to all their friends.

To the OP - these students really will recommend you to all their friends. I helped out an overseas student with their grammar on the dissertation (simply because I couldn't understand it to give them guidance on where to concentrate their effort) and now I'm getting lots of requests to be a supervisor which I'm having to turn down.

Miffi_2

Thanks for everyones replies. Re the proof reading thing, I am going to have a think about it and speak to my friend at the Uni to find out what they think about it (and if it is ok to put up flyers etc).

If anyone has any futher suggestions about this potential money making exercise, please do let me know.

Thanks again - hopefully this will be one step towards me getting on top of my debt.

loopylass

Hi my husband works full time and i dont work (looking after our 4 children ) but to get a bit of extra money would love a p/time job like a cleaning job maybe £40 a week but as we get child tax do i have to tell them when we review because i wont need to pay tax on it. I want to earn some extra to help pay the bills but if they are going to give me less child tax theres no point in doing it because we wont be better off as a family can anybody give me any advice

thankyou:D

tattooed_lady

loopylass wrote:

Hi my husband works full time and i dont work (looking after our 4 children ) but to get a bit of extra money would love a p/time job like a cleaning job maybe £40 a week but as we get child tax do i have to tell them when we review because i wont need to pay tax on it. I want to earn some extra to help pay the bills but if they are going to give me less child tax theres no point in doing it because we wont be better off as a family can anybody give me any advice

thankyou:D

If you earn under a certain amount a year you don't pay tax - it's about £4900 a year for me I think.

You would have to inform the CTC about it though - but if you were earning £40 it's unlikely you would lose much of your tax credits. Why don't you fone the helpline and get them to give you a rough estimate?

Bargain_Rzl

savingforoz wrote:

If you're going self employed (which it sounds as if you are, however small the scale of operations) then you need to register with the Inland Revenue for tax and National Insurance, via forms that you can download from their website (www.hmrc.gov.uk). There's a fine for not doing so promptly. All self employed people have to prepare and file tax returns annually, which is how the income gets declared to the Revenue. You can file the tax returns online yourself if your business affairs are simple and if you do so by 30 September annually, the Revenue will work out your tax bill for you. The amount of tax/NIC that you pay, if any, depends on how much other income you have - as your first post mentioned extra income, then I assume you have earnings elsewhere? However, if the income is small and you don't have other earnings, then you may not have to pay any tax and can claim exemption from Class 2 national insurance.

This is not the whole story and you may in fact find it's even less complicated. If you have an existing job and you're paying tax through PAYE, then as long as your second income comes in at below your personal allowance (which I think is about £4900) you can inform the tax office and they'll adjust your tax code so that your personal allowance is reduced by the amount of your additional earnings - so that you're effectively paying extra tax on your main income, but none directly from your second income. Then they just send you a form once a year asking if the amount you declared in the previous tax year is still correct, and if it needs adjusting they adjust it. (If you don't send the form back they increase it automatically and you have to get it corrected!). It shows up on your annual tax coding letter as "Other Emoluments".

For example, I work full time and my tax/NI are on PAYE. I have a second income of £1248 a year. I pay no tax directly on the £1248 but my tax code is £1248 less than the standard figure, so I start paying tax on my main income over the value of £3652 rather than £4900. All legal and no problems so far.