Freelance work after bankruptcy

worthless30

Hi All,

I was declared bankrupt on May 1st 2009, after having my own retail business.
Since then I have been working in a bar and trying to find full-time job back in my old profession before the business.

I have recently been offered some freelance work. I was wondering how this works with my OR and IVP's...if I start doing freelance how would this be assessed by the OR as the income can be varied from it, obviously I need to declare it for tax purposes but how does the OR evaluate my income if its varied month by month...any advice...if that make sense?!

Thanks

LilyBart

Hi Worthless,
Standard thing with freelance work - any work, really - is that you have to inform your OR of any financial change within 21 days. With earnings that vary, month by month, you should try and estimate an average for a three month period and keep checking that projected average against what you're really earning. Don't forget to deduct the deductables.
Hope that helps
Lily