BR forms - silly questions

Maybeelady

Worried about getting some of the questions wrong - argh! If anyone can help with the following it would be much appreciated.

I'm self-employed (registered as a sole trader) but have been contracting to the same company for the past 4 years. It's a small business that I work for and everyone who works there (all 4 of us) do so on a self-employed basis which is a condition of working there (basically a tax dodge for my boss and a massive headache for me!).

Question: Are you a director or involved in the management of a company? As a sole trader, would that be yes?

Question: Trading Address - Would this be my address, which is where I am registered as a sole trader? Although I don't actually trade in anything...

Question: Assets - tools of trade. This would be my computer/printer etc - regarding approximate value, would this be what I paid for them at the time (years ago) or estimated value now (very little!)?

Assets - any other property of any value eg. paintings, furniture etc. Do I include all furniture? What constitutes "value"? £50/£100/£500/£1000???

Many thanks!

(and probably more silly questions to follow...)

Maybeelady

Another one...

How much do other members of your household contribute to household expenses? I live in a house share and we split bills equally between us - do I mention housemates? Or does this only refer to family members?

Thank you!!

Maybeelady

Anyone got any ideas?? Please!

debtinfo

Maybeelady wrote: »

Worried about getting some of the questions wrong - argh! If anyone can help with the following it would be much appreciated.

I'm self-employed (registered as a sole trader) but have been contracting to the same company for the past 4 years. It's a small business that I work for and everyone who works there (all 4 of us) do so on a self-employed basis which is a condition of working there (basically a tax dodge for my boss and a massive headache for me!).

Question: Are you a director or involved in the management of a company? As a sole trader, would that be yes? No, this refers to a limited company where you do not hold liability for the debts.

Question: Trading Address - Would this be my address, which is where I am registered as a sole trader? Although I don't actually trade in anything... Yes this would be your home address in the absence of any other

Question: Assets - tools of trade. This would be my computer/printer etc - regarding approximate value, would this be what I paid for them at the time (years ago) or estimated value now (very little!)? What a man on the market would give you

Assets - any other property of any value eg. paintings, furniture etc. Do I include all furniture? What constitutes "value"? £50/£100/£500/£1000??? No personal domestic items need to be listed, unless they are antiques etc or bought recently within the last couple or months. The reason that the computor should be listed though it is worth very little is because it is business not personal so is at the OR's discression whether it should be exempted.

Many thanks!

(and probably more silly questions to follow...)

Here you go

debtinfo

Maybeelady wrote: »

Another one...

How much do other members of your household contribute to household expenses? I live in a house share and we split bills equally between us - do I mention housemates? Or does this only refer to family members?

Thank you!!

Unlike a family where you put all the income and all the expenses, in a house share you should put down only your income and a pro rata expenditure i.e all the expenses divided by the number of people

Maybeelady

Thank you everyone! What happens if you make a mistake on the form (insert the wrong amount or something) - is this set in stone once the BR forms have been submitted to court or can things be sorted out with the OR afterwards?

philnicandamy

try not to worry...once you click "submit" on the online forms it'll not let you change anythoing just print off copies....BUT on the day at court the clerks will go through everything with you anyhow & change anything then that needs to before they present the paperwork infront of the judge

Maybeelady

Another question...

What is your average monthly take-home pay? I'm self-employed so do I take out the tax and national insurance and just put in the remainder? Or do I put the whole amount (as it asks what my tax and NI are on the next page?

Thanks!

debtinfo

You should put down what your net income (after tax and NI are deducted) has been averaged over the last 3 months