'A warning to freelancers and the self-employed everywhere' blog discussion
edited 2 February 2012 at 3:01PM
in Martin's Blogs & Appearances & MoneySavingExpert in the News
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This is the discussion to link on the back of Martin's blog. Please read the blog first, as this discussion follows it.
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Read Martin's "A warning to freelancers and the self-employed everywhere" Blog.
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With that my dad has started as a driving instructor this year and I keep telling him this but he isn't having any of it, I don't look forward to his tax return.
Quit day job to run 3 businesses 08/02/2017
Started third business 25/06/2016
Son born 13/09/2015
Started a second business 03/08/2013
Officially the owner of my own business since 13/01/2012
I've had the pleasure of having to complete a tax return since I was 23, so age is no excuse. If you're earning, you have to contribute. I don't suppose the HMRC make this any easier for "creatives" as there is the option to even out earnings?
"No man is worth, crawling on the earth"- adapted from Bob Crewe and Bob Gaudio
Hope is not a strategy
¦OO¬¬ O[]¦ Martin would look like
¦ _______ ¦ In a washing machine
¦ ((:money:)) ¦
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¦''''''''''''""""""¦
Plus the way the tax system works and hits newbies fror six is that you are always based on what you earned last year - so can end up paying too little after a bad year/ good year situation or being hammered after a good year / bad year when money is suddenly tight but ouch when the big adjustment bill arrives just after Christmas... always great timing, cheers.
I have personally switched to paying a fixed direct debit sum to the taxman each month - that way there's then just a slight adjustment either way in jan/july bills.
That's why all the 'Tax evoiding' IT contractors are limited companies, its nothing to do with tax, no one will hire them otherwise. Having the ltd company there means HMRC can't bypass it and have to pursue the contractor for tax, they can't turn on the client.
Not sure why they don't go after entertainment companies that are obviously abusing the employment & tax law? If they can get the footballers to play more or less properly why not T4 & co?