Self-Employed/PAYE

full-time-mum

I registered as self-employed last year as I have been doing a small amount of mystery shopping.

I went on a course and set up a simple spreadsheet to keep track of pay/mileage and other expenses based on the examples we were given - so far so good.

I've just completed my first assignment for a new agency and they have taxed me. Apparently, they do things the PAYE way rather than leaving me to sort it out.

My question is, how do I maintain my accounts now? Do I have to keep this agency on a separate spreadsheet?

It is extremely unlikely that I will earn enough to pay tax so, presumably, I will need to claim it back at the end of the tax year. Its currently a grand total of £4.40 which hardly seems worth it but £4.40 is £4.40.

As I understand it, I won't need to file a tax return until this time next year for the assignments I've done since May 2006 but now I'm wondering whether I am wrong - I've not been sent any forms to fill in. Will I have to wait until April 2008 to claim my £4.40 back?

I thought I'd got everything under control but now I'm feeling a bit

whatatwit

yes, keep the paye one separate..they will send you a p60 after 6th April.

HMRC will send you a return after 6th April, you can fill this in as soon as you wish, or be like the rest of us muppets and wait until the deadline of 31st January....:rotfl:

If there is are pages for employment, give HMRC a ring and they will send you a supplementary page.

full-time-mum

Thanks - just off to make a second spread sheet.....

Just to clarify, I should get a form to fill in after April 6th which I will fill in for the assignments I have done between April 6th 2006 and April 6th 2007. This will need to be filed by around this time next year?

Just a thought, which year does April 6th 2007 fall into, 06/07 or 07/08?

whatatwit

No, the form you get after 6th April, will cover the period from 6th april 2006 to 5th April 2007.

6th April is the start of each new year for tax.

If you have tax deducted off any bank/building society interest, then you can put this onto the form as well and if there is no tax due, you may get a refund.