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self employed or self assessment?
theGrinch
Posts: 3,131 Forumite
in Cutting tax
A friend of mine has just began teaching. She will be provider her teaching services to various local authorities, private schools and undertaking private tuition.
As a result, invoices will be raised for each of the three groups.
Does my friend need to register as self employed (as I suspect)or just complete a self assessment form at the appropriate time?
As a result, invoices will be raised for each of the three groups.
Does my friend need to register as self employed (as I suspect)or just complete a self assessment form at the appropriate time?
"enough is a feast"...old Buddist proverb
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Comments
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Self employed - they're working.I was a DFW, now I'm a MFW :T0
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What is the difference between self employed and self assessment please? I have only ever been PAYE.No debts. No credit cards. No store cards. No mortgage. No CCJs. High credit rating intact. Living frugally. Want to start business soon. Trying to keep head above water; while standing on own feet; staying within the law; and not falling into debt. Looking to raise income, who isn't?0
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All self employed people i.e. those who have income from work that is not taxed at source must self assess i.e. complete a tax return, but not everyone who must self assess is self employed.
Ministers of religion, many people over 65, people whose income exceeds £100k, members of LLoyds, people with income from overseas are some examples. HMRC give the latest rules on their website.Who having known the diamond will concern himself with glass?
Rudyard Kipling0 -
LurkerTurnedPoster wrote: »What is the difference between self employed and self assessment please? I have only ever been PAYE.
If you're self-employed, you have to register for self-assessment.
CK💙💛 💔0 -
Ah. So you would self assess if for instance you lived off investments and pensions, but you would not be self-employed?
But being self employed indicates working to generate income, so you again would self assess (or get an accountant)?No debts. No credit cards. No store cards. No mortgage. No CCJs. High credit rating intact. Living frugally. Want to start business soon. Trying to keep head above water; while standing on own feet; staying within the law; and not falling into debt. Looking to raise income, who isn't?0 -
InsertWittyName wrote: »Self employed - they're working.
thanks. do you have the appropriate HMRC link for this?"enough is a feast"...old Buddist proverb0 -
No debts. No credit cards. No store cards. No mortgage. No CCJs. High credit rating intact. Living frugally. Want to start business soon. Trying to keep head above water; while standing on own feet; staying within the law; and not falling into debt. Looking to raise income, who isn't?0
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LurkerTurnedPoster wrote: »Ah. So you would self assess if for instance you lived off investments and pensions, but you would not be self-employed?
But being self employed indicates working to generate income, so you again would self assess (or get an accountant)?
There are several reasons you'd fill out an SA.
I'm paid through PAYE for part of my income, but there are reasons I need to fill one out.
The SA forms are to give HMRC a clear picture of finances for the year, thus meaning that they can work out how much tax you need to pay/they need to refund.
CK💙💛 💔0
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