Employment

Buzzard1985

If I was working part time as well as doing my own buisness how would this work out for Self Assessment?

Would HMRC tax my buisness profit at the same amount as they do for my employed occupation?

heathcote123

Buzzard1985 wrote: »

If I was working part time as well as doing my own buisness how would this work out for Self Assessment?

Would HMRC tax my buisness profit at the same amount as they do for my employed occupation?

Depends on how you do it.. self employed or ltd co, how much you earn etc etc....

pjclar02

Your business profits will be added on to your part time earnings in order to work out how much tax you need to pay.

Buzzard1985

So I could end up paying a bit then

heathcote123

Buzzard1985 wrote: »

So I could end up paying a bit then

Yes, thats generally how taxation works.

Buzzard1985

heathcote123 wrote: »

Yes, thats generally how taxation works.

:rotfl: Realised what I typed, time for bed me thinks.

heathcote123

Buzzard1985 wrote: »

:rotfl: Realised what I typed, time for bed me thinks.

.. Now stop worrying about tax, paye, sa and all that nonsense. You need to figure out how to get the business running and earn money - that your priority.

Buzzard1985

For the last 2 months I don't get to sleep till 4am or around that wth thinking of tax etc etc.... I find myself going through HMRC like a robot! Did you get my PM, what do you think of those ideas?

Buzzard1985

Public liability Insurance, 1 million for £63.74 per year, can't complain I suppose. I appear to be gathering information but have no idea what the hell to be doing with it!