Maximising income - Mystery Shopping? Surveys? (Part Two)

ilean

Looking for people to do bar visits in the following areas-must be under 45 and have excel

BRADFORD
DONCASTER
SHEFFIELD
NEWQUAY
SAILSBURY

Thanks

eflaherty1@yahoo.co.uk

newmoneysaver_2

Lots of petrol stations, clown food and computer shops showing on GAP!

Sarahsaver

Timmne wrote: »

This isn't true...

It doesn't matter what the MS company gives you - if you're working as a contractor (i.e. paid gross) you're paid an amount, be it £5, £10 or £100.

It's only the MS company that's quantifying what they're paying you for, not them paying you for specific things when they say they'll pay travel expenses. For example, if they pay you £10 for a job and £2 travel expenses it's the same as paying you a £12 fee. It's all income for the purposes of your tax return.

On the same note, if you pay for a bus journey to the place you're visiting then you can claim this against your income. It's a big benefit of being self employed rather than employed.

If however they are paying your travel directly to the travel operator, i.e. you don't pay out anything for the travel then you can't claim this against your profits.

Simple rules - if you pay out for something and it's "wholly, exclusively and necessarily" for the purpose of your business then you can claim it against your income.

Remember though, the above is ONLY relevant if you're working as a self employed contractor, not if you're an employee. If you're an employee you can't take anything off your income yourself, this will all be dealt with at their end. If you need to be reimbursed travel expenses they will do so exclusive of tax.

If anyone needs proper advice on what they can/can't claim and how to manage their taxes with MS please PM me or ask on this thread. Apologies to Sarahsaver but the advice in the above quoted post is incorrect, on a self employed basis.

So I CAN claim for travel expenses TWICE in effect?

Sarahsaver

newmoneysaver wrote: »

Lots of petrol stations, clown food and computer shops showing on GAP!

Then all the jobs will be gone! :rolleyes:

debtfree1day

why do GAP and RETAIL MAXIM keep declining me?

I am with Retail Eyes and GFK and both are very good

Any other recommendations appreciated

Lisa
x

Timmne

Sarahsaver wrote: »

So I CAN claim for travel expenses TWICE in effect?

I think it may be the word claim that's the confusing party here...

You add up all your income - That's any money that the MS company has given you, regardless of what they said it was for - say £100.00.

You then add up your expenses - say 20 bus trips @ £1.00 = £20.00

This means your profit (in simple terms) is £100.00 - £20.00 = £80.00.

The £100.00 may comprise £50 fees and £50 reimbursement but that doesn't matter as you're self employed - this is all income for tax purposes.

Does that make sense? Hope so!

trubster

but wouldn't it be like this

Payment from MS Company (50 Fee + 50 Reimbursement) = 100
LESS
20 Bus Tickets £20
Test Purchases £50

Profit: £30

Thats the way i have been working it out... oops

trubster

Really quick question for anyoone who does the GAP Nightclubs.

I have one, I went to download the paper work and it is only a letter telling you about it, no questions... what do you have to enter when you "Express" it?

I dont want to have to remember EVERYTHING and not know what I need to comment on, esp when they have cheap drinks and entry on at the club in question ;-)

Timmne

Indeed it would! (I just forgot to mention any test purchases! )

jobbingmusician

Timmne wrote: »

I think it may be the word claim that's the confusing party here...

You add up all your income - That's any money that the MS company has given you, regardless of what they said it was for - say £100.00.

You then add up your expenses - say 20 bus trips @ £1.00 = £20.00

This means your profit (in simple terms) is £100.00 - £20.00 = £80.00.

The £100.00 may comprise £50 fees and £50 reimbursement but that doesn't matter as you're self employed - this is all income for tax purposes.

Does that make sense? Hope so!

Frayed not. Surely there is at least one sort of tax which doesn't work this way.

You can get an exemption certificate for NI if you already pay NI in your main employment and earn less than a certain amount (from memory about £4k). This amount is clearly EXCLUSIVE of any expenses you are required to spend in your MS - at least, I hope so! :rolleyes: