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Self Employed Tax and NI
Alcofrolic
Posts: 60 Forumite
Hi,
My partner is facing redundancy at the beginning of next month. He has been offered another job through one of his suppliers as a sales person. He wont be salaried but would earn 50% commission on whatever he sells.
He would be classed as self employed so I wondered how best to do his NI and Tax, I was thinking there may be an easy option of going through an Umbrella company, but now sure how this would work as he wouldnt be submitting timesheets. Would this work for his type of role.
I know he can do a self assesment tax return but have heard these are a right pain. The other more expensive option is to get an accountant but as he may not be actually earning anything for the first few months its money we dont actually have.
Also how would this all affect tax credits, hes not going to know what hes earning...hmm, this looks more complicated then I thought.
Can anyone advise.
My partner is facing redundancy at the beginning of next month. He has been offered another job through one of his suppliers as a sales person. He wont be salaried but would earn 50% commission on whatever he sells.
He would be classed as self employed so I wondered how best to do his NI and Tax, I was thinking there may be an easy option of going through an Umbrella company, but now sure how this would work as he wouldnt be submitting timesheets. Would this work for his type of role.
I know he can do a self assesment tax return but have heard these are a right pain. The other more expensive option is to get an accountant but as he may not be actually earning anything for the first few months its money we dont actually have.
Also how would this all affect tax credits, hes not going to know what hes earning...hmm, this looks more complicated then I thought.
Can anyone advise.
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