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working from home and tax implications
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elf06
Posts: 1,547 Forumite
Hi all, not sure if I have posted this in the right place (please point me to where it should be if i havnet) but I'm looking for advice on working from home.
Currently I work a 16 hour week employed by a rather well known company but I'd like to start making and selling from home. What I am not sure about is what to do about paying tax etc. Its completely new to me so I know nothing!! I pay NI at present but dont earn enough to pay tax trought my employers but prsumably I would need to pay tax on my self employed earnings?? Do I need to provide receipts for purchases for self employed business? This may be tricky as a lot of the stuff was bought on ebay.............
Also wondering how it would affect my tax credits
Really ANY advice would be good as I deff do not want to do it the wrong way and end up facing a fine!!
Currently I work a 16 hour week employed by a rather well known company but I'd like to start making and selling from home. What I am not sure about is what to do about paying tax etc. Its completely new to me so I know nothing!! I pay NI at present but dont earn enough to pay tax trought my employers but prsumably I would need to pay tax on my self employed earnings?? Do I need to provide receipts for purchases for self employed business? This may be tricky as a lot of the stuff was bought on ebay.............
Also wondering how it would affect my tax credits
Really ANY advice would be good as I deff do not want to do it the wrong way and end up facing a fine!!
Emma :dance:
Aug GC - £88.17/£130
NSD - target 18 days, so far 5!!
Aug GC - £88.17/£130
NSD - target 18 days, so far 5!!
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