MYSTERY SHOPPING THREAD XIV - Please do NOT mention Client names on here

kellyp1811

Hi guys,
I am new to this mystery shopping and have registered to 2 so far to start slow etc, I have a quick question about tax - Im just about to register for self employed etc - and i was wondering how it works? do you need to declare both the companies or just reg as self employed?
Thanks for your help

Mumof2_2

kellyp1811 wrote: »

Hi guys,
I am new to this mystery shopping and have registered to 2 so far to start slow etc, I have a quick question about tax - Im just about to register for self employed etc - and i was wondering how it works? do you need to declare both the companies or just reg as self employed?
Thanks for your help

check out the first page of this thread and it will tell you all about it.

kellyp1811

thanks mum of 2, yeah i did read it - im obv having a blonde moment, i see its fairly straight foward in telling them about it (kind of ) but is it taxed for you already and the money that goes into your bank is then yours or do you then need to do something else?
sorry to sound incredibly dumb but never had to do any kind of tax things, work has always doe it for me,
thanks soo much

Mumof2_2

I think once you register as self employed you then have to do a tax return, so the money is yours but if you earn over a certain amount you have to pay tax on it. I'm no expert, I'm sure someone a lot more knowledgeable than me will be along who can help you!

misssarahleigh

nearlyheadlessian wrote: »

How far away is it? How long does it take to get there? Are you going past anyway? Is the free fuel welcome? What value do you put on your time? All questions you should be asking yourself and if the job doesn't reward you sufficiently you don't have to do it

Yeah, i see your point. booked 2. there both quite near, one i'm doing on my way to another job tonight and do have to fill me car up. suppose there middle of the road. expenses paid would be loverly though lol

ukmonkey

Has anyone even been paid from BARE by Paypal? If so, does it incur fees from my end either when receiving the money, or when withdrawing it from Paypal into my bank?

kellyp1811

thanks right so let me get this straight (im probably wrong lol) you become a shopper, you reg as self employed, you earn the money, then have to fill in a form to pay tax?? is that right? how often do you do the tax return? or is it at the end of the tax year?

Angelfeathers

kellyp1811 wrote: »

thanks right so let me get this straight (im probably wrong lol) you become a shopper, you reg as self employed, you earn the money, then have to fill in a form to pay tax?? is that right? how often do you do the tax return? or is it at the end of the tax year?

Yep, that seems to be how it works. You earn money and at the end of the year you fill in a tax return and find out how much (if any) tax you need to pay on what you've earned.

Scaredy_Cat_3

kellyp1811 wrote: »

thanks right so let me get this straight (im probably wrong lol) you become a shopper, you reg as self employed, you earn the money, then have to fill in a form to pay tax?? is that right? how often do you do the tax return? or is it at the end of the tax year?

The tax return is at the end of the financial year usually (6th April) so if you start now, you keep records and fill in a tax return next April.

You can choose your own date for year end but I find it easier to stick with the tax year. Once you notify the Tax people you are self employed (and I think it has to be within 3 months of you becoming self employed) they will keep a note and send you a tax return next April.

You need to keep track of your income and expenditure... you would pay tax on any profit IF it totals more than the personal allowance, which is around 5k per year. If you have a 'proper' job then you may have already used up your tax free allowance so you would pay tax on your mystery shopping profits. If mystery shopping is your only income then chances are you won't need to pay tax - but you do still need to complete a tax return.

EDIT: Just wanted to add (in answer to your other question, which I've only just noticed!), most companies do not deduct tax for you. That's why you have to keep your own records and then you are liable to pay any tax due.

blindman

ukmonkey wrote: »

Has anyone even been paid from BARE by Paypal? If so, does it incur fees from my end either when receiving the money, or when withdrawing it from Paypal into my bank?

I get paid by CHG (in $) into Paypal. Paypal charge a fee to convert it to £'s, so as BARE pay in Euros then you'll get charged a fee.