How to pay tax?!?

skivenov

Savvy_Sue wrote: »

When he registers, he'll be invited to set up a DD for his Class 2 NICs, so that will be that taken care of.

Of course, whether this really is self-employment is a moot point, more likely the college getting out of paying holiday pay and SSP etc. But the process as described by tiger eyes is correct.

If he's just working for the one college (or group of colleges), remember to tick the relevant box for Sole Contractting.

They've closed things up a little so anyone who's "self-employed" for one employer now gets a stronger amount of protection as an employee.

Also make sure that he's coverred by the college's public liability insurance, and consider getting his own (it's not generally expensive if you add it onto a vehicle policy).

sparklyjojo

Great! Thanks so much Savvy_Sue and tiger eyes - I feel like I actually understand what we have to do now - all thanks to you two

I think I'll look into a savings account that at least pays some interest and transfer the 30% into it each month. Now I know it's going to be in there until January 2015... might as well get at least 1% on it if I can find such a thing!

sparklyjojo

skivenov wrote: »

If he's just working for the one college (or group of colleges), remember to tick the relevant box for Sole Contractting.

They've closed things up a little so anyone who's "self-employed" for one employer now gets a stronger amount of protection as an employee.

Also make sure that he's coverred by the college's public liability insurance, and consider getting his own (it's not generally expensive if you add it onto a vehicle policy).

Wow, this is so useful! Thanks skivenov! These forums are the best! Starting to wonder why I spent so very long driving myself crazy on HMRC website!

You guys are brilliant! :j Thank you.

Savvy_Sue

sparklyjojo wrote: »

Great! Thanks so much Savvy_Sue and tiger eyes - I feel like I actually understand what we have to do now - all thanks to you two

I think I'll look into a savings account that at least pays some interest and transfer the 30% into it each month. Now I know it's going to be in there until January 2015... might as well get at least 1% on it if I can find such a thing!

Martin has an article on savings accounts up here - you could get 3% with Santander maybe?

sparklyjojo

:beer: Thank you SO much to all of you. I couldn't have done this without you, and feel so relieved to finally understand what's needed.

You're all brilliant! :T

THANK YOU!!