avon and tax returns!

lolly1981

hello
i'm just looking for a little bit of advice.
i registered as self employed in january, i started as an avon sales leader at the end of november 09.
i have already paid a national insurance bill, how often do you get these?
but i know at some point i will have to do a tax return, but when?
also i have all my invoices from when i started which obviously informs me how much i have to pay avon, it doesnt give the total of what my comission is, but that it can be worked out from the invoice.
i also have at the moment a few business expenses, i am going into avon party planning so regularly have to update my demo products, these are listed on the invoice, i have my brochure costs, stationary (ie invites) pens and things. do i just high light these on my invoices, do i need to fil out order forms to show that i ordered them not customers. and do i just deduct this all from my total earnings?

i have kept all customer order forms, and any receipts for things purchased such as a stapler and things.

im worried that i will deduct the wrong things or not deduct everything i should. but too be honest i earn at the minute such a small amount i couldnt justify paying an accountant to do it

thanks for any help

fengirl_2

You should be paying class 2 NIC every month - HMRC should have sent you a DD form to complete.
Your 2009-10 self assessment will be issued shortly and has to be with HMRC by 31 Jan 2011.
You really need to be keeping a record of your income and outgoings as you go along - a simple spreadsheet will add these up on a monthly basis and then you won't have a panic on when you come to do your accounts. Don't try and calculate outgoings from invoices - listing them as you go along is far easier.
Make sure you include everything that you use for business including travel and your home office.

Savvy_Sue

fengirl wrote: »

You should be paying class 2 NIC every month - HMRC should have sent you a DD form to complete.

Unless you're under the Small Earnings Exemption Limit, look for that on the HMRC website and apply if you're earnings are low enough but keep in mind whether you are getting any protection / NI credit from elsewhere, eg because you're claiming Child Benefit. If you're not, it may be worth paying the NI even if you don't strictly need to.

martindow

I'm invoiced for and pay class 2 NI quarterly by cheque at the PO.

sophisoph

to add to this...do you take into consideration everything since starting as a rep...or only since becoming a sales leader?