Anne Summers and Tax Credits

Naranji

If you are in receipt of Tax/Child Credits and you become an Ann Summers Rep do you have declare this?

Hubby works earning less that £20,000 and I am thinking of doing this to help cashflow

Thanks, Nar

MrsBartolozzi

Of course! It's income isn't it? You should also let the tax office know that you are self employed and if you earn over £6455 you'll need to pay tax and NI.
I don't know much about being self employed but hopefully you'll get someone along who knows more about this, but I din't think it's very complicated.

Naranji

I thought I would but Hubby seesm to think i can just do it cos I may earn more some weeks than others and nothing at all on other weeks!...he has said it will just be pocket money and I shouldn't bother!

Will I really have to go into all the self employed thingys :cool:...I am only planning on doing 1 maybe 2 partys a week (if that)

Nar,

AnxiousMum

Do you hope to make any money doing just 1 or 2 parties a week? If you are going to invest in the company by buying your kit etc., I would expect you are also doing it to make some money. Money earnt = income. Income needs to be declared on your tax credits form, as well as to housing benefit if you are in receipt of that. It could even turn out that you dont' make enough to pay income tax on. But if you're going to do it - declare it honestly - the humiliation of being caught trying to defraud them wouldn't be something I imagine you would want the worry of.

ManicMum

You will need to do an annual self assessment form. You will also need to inform HMRC within 3 months of becoming self-employed or you will automatically be fined £100. If you will be earning a small amount, you can apply for small earnings exemption from weekly class 2 NI contributions that will be due. But you will then exempt yourself from certain benefits. Need to do more research so you know what you are getting into.

Naranji

Thanks everyone...Hubby seems to think it is just a matter of 'doing' it but I said I thought it would be more indepth than that!

I will have to do my homework and see if it will actually be worth it in the long run.

Nar

Hammyman

Naranji wrote: »

I thought I would but Hubby seesm to think i can just do it cos I may earn more some weeks than others and nothing at all on other weeks!...he has said it will just be pocket money and I shouldn't bother!

Will I really have to go into all the self employed thingys :cool:...I am only planning on doing 1 maybe 2 partys a week (if that)

Nar,

Yes you have to declare the profit and yes you have to register as self employed.

You could "just do it" as your hubby suggests but you run the risk of being done for fiddling tax credits and income tax evasion - both administered by the HMRC who are noted for going for the jugular if someone crosses them.

Becles

Have a read of the first post in the mystery shopping thread:
https://forums.moneysavingexpert.com/discussion/2760142

It explains how to register for tax and NI, the records you need to keep and other useful information for going self employed.