Second Job Issues

2ndjob

Hi, I currently work for HM Forces and earn around £32,000 a year. I am looking to start my own business on the side, and sell mobile applications. Can you please let me know about tax issues with having a second job and any other isses.

cheers

Barry

pipscot

2ndjob wrote: »

Hi, I currently work for HM Forces and earn around £32,000 a year. I am looking to start my own business on the side, and sell mobile applications. Can you please let me know about tax issues with having a second job and any other isses.

cheers

Barry

If you are starting a business, then you will be classed as "self-employed" (for the business only - you will still be "employed" for your first job).

You need to contact HMRC and register as "self-employed" as soon as you start your business - then you need to keep full accounts and records of all your earnings and expenditure. You will need to fill in a tax return at the end of the tax year and include details on it of both your PAYE income and your business income.

You might want to consult an accountant for a full explanation of all of this - it is very important when starting a business to comply with tax and this can be confusing if you have not been self-employed before.:)