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  • annyanny
    annyanny Posts: 5 Forumite
    I am working at home ,before made this decision ,I thought a lot of things ,now it proves that I am right !
    Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure.
  • lisastevo
    lisastevo Posts: 77 Forumite
    Name Dropper First Post First Anniversary Combo Breaker
    Hi All.

    Been reading through this thread and have found it very interesting.

    Im a self-employed singer and have been through the mill with inland revenue over the past 6 or so years and I wish I had found this site sooner.

    I became self employed in 2002 but I didn't even know...let me explain.....I was working for a company for 2 years but my job role changed...i was only 19 at the time...no one informed me that I would have to declare myself as self employed...i was young and stupid....4 years later I move and set up business on my own so obviously being older and wiser decalre myself self employed and I find myself with an £8500 bill from the tax office for the previous years!!!! Yes I was shocked, I had no savings, no receipts, no accounts nothing. Anyway to cut a long story short, I was liable for all the money, I tried to plea to there good nature and pay in installments but that would have to be completed within 18 months and I still didn't earn enough...they said my only option was BR. Luckily I have amazing parents who were able to bail me out and they put down £5000 and I paid the rest in instalments for a year.

    I definately learnt my lesson from this whole experience and I now run a tight ship. All the posts regarding Tax and NI on this thread are really helpful. It took me a long time to get my head round the payments on account thing but business has picked up and im able to save well now, for the tax man throughout the year.

    I do hate the feeling that I always feel in debt to the tax man but thats life I suppose. Other debt I have I think are now undercontrol..fingers crossed...personal loan of £4500, credit card down to £650 and I had a flexi loan of £1000 which I have recently paid off so that cuts out £40 a month which is helpful. I know its not alot but I still worry.

    Although I use an accountant to fill out the paperwork for the tax return I keep good books throughout the year and I have an office at home where I file everything and keep good records so it saves me money on the accountant as everything is neay and tidy.



    Well thats my story, ive never wrote it down or told anyone before. I feels good.
  • Wordsmith
    Wordsmith Posts: 1,164 Forumite
    Hello Annyanny.

    Morning everyone. Happy work day for everyone. As self-employed people I doubt this is the last day of the week for most of us.

    My tasks for today:
    • [strike]Finish one of my proofreading jobs and get it in the post today.[/strike] Got it out. Yay!
    • [strike]Wait for new toner cartridges (lovely friend said he would fetch them for me to save me time).[/strike] Got em - but am €182 poorer.
    • [strike]Finish printing the newsletter and get it out today.[/strike] Got it out. Yay!
    • [strike]Shop this afternoon - a couple of hours being a shop girl until the owner gets home from his full-time job, then a few more hours doing the books. [/strike] Owner's van broke down so was a shop girl all afternoon, until 8.30.
    • [strike]Try to stay away from Internet. [/strike] Managed pretty much - yay! Was too darn busy to do more than sneak a peek a few times while printer was doing its thing.
    • [strike]DFWing - Ring insurance company to see if I can claim my roof repairs on insurance.[/strike] Not covered by insurance. :eek:
    • [strike]Whether they say yes or no [/strike]think hard about how I can raise the £1200 or so to pay the bill (ohmygodohmygodohmygod). Thought lots. Came up with ... nothing.:(
    Can't be a no-spend day as I have about one sheet of toilet paper left.:eek: Also need toothpaste - have slit the side of the tube and managed to get 3 more teeth-cleanings from scrapings, but will have to start using shampoo unless I remember to buy paste. Have already raided bank account to get the €180 for toner cartridges - that means a DD won't get paid tomorrow but was at a loss as to what else to do as I can't finish the job without the toner.

    I think I will have to sell house in England - I so, so don't want to and the small amount of profit won't pay off all my debts, but it will put a dent in them. I really didn't want to lose this asset, but the strain of finding the DD and food money every month is getting to me.
    "Green pastures are before me,
    Which yet I have not seen;"
    I'd love to be a good example - instead, I am a horrible warning.
  • Wordsmith
    Wordsmith Posts: 1,164 Forumite
    Hello, Lisastevo. Your message got posted while I was writing mine. What a shock about the tax - it's all very well in hindsight to know that you should have been aware of the situation, but unless you know you need to know, how do you know? Sounds like it was a good lesson and has set you up better for the future, though. I have still to learn the lessons that have been put in front of my eyes for the last [insert big number here] years. What sort of singer are you?
    "Green pastures are before me,
    Which yet I have not seen;"
    I'd love to be a good example - instead, I am a horrible warning.
  • lisastevo
    lisastevo Posts: 77 Forumite
    Name Dropper First Post First Anniversary Combo Breaker
    Hi...

    Im a cabaret singer/session singer. Also a trained dancer so do alot of freelance choreography....keeps me busyish I suppose. Just wisj I could do my profession without the burden of the self employment and was on PAYE, self employement now scares me and I worry about things happening again but I have learnt and hopefully I will keep things in check from now on.
  • Just had a convo with the mortgage firm and they have said that if i can pass them 12 utility wearhouse leads then I can get the utility wearhouse application fee paid for me to be able to increase my buisness scope, if I can get 24, they will give me a laptop so I dont have to get my own, if i can get 36 they will pay for my first broker fee which is £200.
    Great stuff.
    NatWest Loan - £12,090.06 Mum/Dad - £14,750 TOTAL £26,840.06
    As of 01/01/2010 - DFW Date - 01/12/2014 59 MONTHS TO GO
  • tyllwyd
    tyllwyd Posts: 5,496 Forumite
    I'm another part-time proofreader & copyeditor, specialising in academic & law books, with two girls at primary school. I've got slightly different problems to most of the rest of you - my OH has got a good steady (for at least another year we hope) job which pays the bills. My money is meant to pay for all the other stuff, although with the cost of living going up so much we are relying on it more than I like.

    This year I'm busier than ever, and my home/work balance is really suffering. I keep accepting jobs, then when they arrive they are twice as long as I'd expected, so instead of working about 15-20 hours a week I'm trying to cram in 30+ hours. And to add to the stress, my OH has got a stomach problem which means that he needs an operation asap - he's getting by at the moment, but he runs out of energy very quickly so more and more of the home stuff like shopping, cooking, looking after the kids is falling on me. And of course with a long term absence for ill-health coming up, we worry about his job as well, so I'm more inclined to accept any work I'm offered, so I'm getting squeezed from both directions and the more tired I get, the harder it is to concentrate, so it's a vicious circle.
  • Sorry to hear about that tynwyd. My self employed business is also my spare income earnings, used as spending money, to pay off debts etc, as my PAYE income (day job) pays the bills.
    NatWest Loan - £12,090.06 Mum/Dad - £14,750 TOTAL £26,840.06
    As of 01/01/2010 - DFW Date - 01/12/2014 59 MONTHS TO GO
  • Wordsmith
    Wordsmith Posts: 1,164 Forumite
    Well done, Cheekymonkey! What a goal to aim for. Good luck.

    Welcome Tyllwyd. I feel for you, and empathise. Are the jobs bigger than you expected because you haven't been given the right information, or because you have miscalculated how long they will take? And if they are taking longer, are you managing to charge for the full amount of time, or are you still charging for the time you originally thought they would take? I have frequently made both of these mistakes and know that it's a difficult thing to get out of. Perhaps you could ask the client to email you a pdf of the job, or a part of it, so you can get a better idea of how long it is going to take and then quote (time and cost) accordingly. When you see that the job is going to take longer, do you ring the client and say that you need extra time? I also know to my cost that the situation isn't sustainable - you deliver late, you don't charge for the number of hours you are working, and your work deteriorates and so you don't get repeat work. On top of that there is extra stress in the home. You know all of this but probably can't see a way out at the moment - I understand, really I do. Is there any way you can get a friend or family member to look after your children for an afternoon, and then not work, but take some quiet reflective time for yourself so you can take a step back from the situation and calm yourself so you can see forward without the red panicky and blinding mist descending? Is it perhaps time to up your rates?
    "Green pastures are before me,
    Which yet I have not seen;"
    I'd love to be a good example - instead, I am a horrible warning.
  • Why not set yourself a limit of 15-20 hours a week, and if it takes 2 weeks it takes two weeks, supose the only downfall of this is your getting less business in.
    You could charge an hourly rate (or £x for the first 15 hours, £x thereafter).

    Wordsmith - good challange I know, but its how do I get the leads with limited recourses and training, honestly too!
    NatWest Loan - £12,090.06 Mum/Dad - £14,750 TOTAL £26,840.06
    As of 01/01/2010 - DFW Date - 01/12/2014 59 MONTHS TO GO
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