tax and declaring

BeautyandtheBeast_3

hi, i want to be above aboard and pay what i owe on my additional earnings from betterware and my tutoring (all which is through an agency) - what do i need to do? do i register as self employed even though i already have a full time teaching job? im very confused!
all help is gratefully recvd. :A

sarahmacuk

Newly self-employed tax helpline: 0845 915 4515


( I just stole that info from the AVON thread)

HTH

Ypaymore

You should register for self employment in the first three months of being self employed.

Any problems post on Tax Forum http://forums.moneysavingexpert.com/forumdisplay.html?f=22

lozza1985

I had to register as self employed for avon, even though I work full time to - if you ring the phone number mentioned above, they are really nice and helpful

BeautyandtheBeast_3

thank you xx

Mikeone

I registered for my tutoring work after calling the number above. I was tempted to chance my arm, but I feel much better (and secure!) for having been honest with the taxman.

Lilhev

Hi, I am a full time teacher but looking into tutoring to increase my income a little, could any one tell me the tax/NI implications (or increases) that are involved.

Thanks

PlutoinCapricorn

Many people top up the income from their main job with earnings from self employment: there is nothing unusual about paying tax and NI via both PAYE and self assessment.

As the main job usually accounts for the Personal Allowance, you will pay tax at the Basic Rate of 20% on the self employment profit If your extra income is more than around £5,000, you need to pay £2.40 per week Class 2 National Insurance and possibly a Class 4 levy at 8%.

See https://www.businesslink.gov.uk