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

jobbingmusician

YOu have 3 months from starting MS to let the IR know that you are self-employed, so I would start your new job and then let them know, if I were you. Also, in the first few months of MS you are likely to earn less, so it's quite a good idea to tell the benefits people - when I was on benefits for a short while I estimated my earnings from MS to be about £5 a week, and this was pretty accurate.

HTH - JM

Timmne

JM I'm sorry I can go no further - What's your signature about?!!

jobbingmusician

I've PM'd you so as not to spoil it for anyone else (it isn't really very funny).

jobbingmusician

Or I tried to PM you....... but you are obviously EXTREMELY popular, and your message box is full!

Timmne

Cleared

Not popular, it stores sent messages too so all the messages to the people I harrass are filling it up!

matthewluck

Hi Everyone,

I have been mystery shopping since March, earned £200 profit after taking away my expenses and travel costs.

I have not yet paid any tax or contacted the tax office. I want to go above board now so I have no worries.

Is it too late to sort it out with them and avoid a fine.

What rate of tax can I expect to pay (I earn 13k before tax in my full time job)

Thanks

jobbingmusician

matthewluck wrote: »

Hi Everyone,

I have been mystery shopping since March, earned £200 profit after taking away my expenses and travel costs.

I have not yet paid any tax or contacted the tax office. I want to go above board now so I have no worries.

Is it too late to sort it out with them and avoid a fine.

What rate of tax can I expect to pay (I earn 13k before tax in my full time job)

Thanks

I would throw myself on their mercy, if I were you, and say that it has taken you a while to find out where to notify them. I seem to have managed to avoid the fine (which is rumoured to be automatic) for not telling them within 3 months.

You will be taxed at the basic rate on your profit. (PRofit seems awfully high - are you SURE you have deducted all your costs from this? What was your turnover? £200 is 40 jobs at £5 each before deduction of expenses.....)

chocolatebutton

Just a post to say that RE have got it right for once!

I accepted a job for a posh restaurant next Wednesday, but when I rang to make the pre-booking they told me that the place was having a 'do' that night. So I emailed RE and asked if they could reschedule the date, so that my score would not be penalised by the fact that the VENUE could not do the original date agreed - and they've done it! :j

WELL DONE RE! Now, why can't other companies be that responsive?

Timmne

RE always get my top marks - they're such a pleasure to work for!

GAP on the other hand.... I only do jobs for them when they beg me to!

peacock3022

Hi guys, registered with RE yesterday, had my first MS today, and 100%.

Next please ..... !