Advice wanted about tax returns for a tutor

juliette12345

Hello everyone,

I have a question! I am considering doing some private tutoring for folks doing Standard Grades and Highers in English and Religious Studies, and I wondered if anyone else had experience of doing this? I'd like to get some advice about doing my tax returns, etc. as I will be self-employed (and I would be doing a day job around it hopefully.) I know I would be self-employed and I just wanted some basic advice on how to do my own taxes - when, where, and how, etc. I know that there is a lot of information out there but it would be nice to get a real "human" perspective about it -- you know what I mean! I am a bit of a dummy as far as stuff like this goes

Thanks so much, Juliette

fengirl_2

You would need to register as self employed with HMRC as soon as you started. You need to keep accurate records of all your income and outgoings in relation to this income. Having a separate bank account helps, but is not mandatory.
At the end of each tax year you will complete a self assessment including all your income. The tax due on your profit is payable on 31 Jan following the year of assessment (so for this year it would be 31 Jan 2012), together with a payment on account for the current year. The rest of the tax being due in July.
If you are a complete dummy, a chat with an aco!!!!ant would pay off as mistakes can be costly.

Newly_retired

You can of course offset expenses against income eg travel, proportion of cost of light and heat, purchase of necessary books etc.

John_Pierpoint

Lots and lots of people have asked your question already - why not search through here finding their questions about being employed and self employed at the same time?

(If they are still active you could ask them by a PM if, in spite of the advice, there were nasty surprises).