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Working from home - Tax
Comments
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Even if you're not earning much at the start from working at home, a general rule of thumb for me is keeping back 25p in the £1.
If you have 20p for the tax man and 5p for the insurance man then, you should keep yourself out of any future difficulties.Lao Tzu - "Give a man a fish and feed him for a day, teach a man to fish and feed him for a lifetime"
Derek Bok - "If you think education is expensive, try ignorance"0 -
Rachylou1981 wrote: »It is employment as I will be working for a company. I have been told that I need to sort my own tax out though.
The two jobs are not the same employer.
I'm guessing that THEY think that you'll need to register as self employed, and do a self assessment, and invoice them, like any other contractor (say a self employed plumber who comes in every now and then and charges them an hourly rate).
If you talk to HMRC, they'll think you are a disguised employee, and it will get complicated at that point. You should look up IR35 and disguised employee on the HMRC website.
I think you are NOT an employee, but a personal services provider.0 -
Thank you everyone for your replies.
Prothet of Doom - I will look into what you just said before I ring HMRC
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Rachylou1981 wrote: »Thank you everyone for your replies.
Prothet of Doom - I will look into what you just said before I ring HMRC
Whatever you DO, don't confuse them, keep it simple, and do research before you EVER talk to them.
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Prothet_of_Doom wrote: »Whatever you DO, don't confuse them, keep it simple, and do research before you EVER talk to them.
Thats what I have been trying to do. I definitely want to be clued up and know exactly what I should be doing
I can't even figure out what number to ring - such an amateur!0 -
Rachylou1981 wrote: »I can't even figure out what number to ring - such an amateur!
Heres the correct forum for future reference.
http://forums.moneysavingexpert.com/forumdisplay.php?f=220 -
Heres the correct forum for future reference.
http://forums.moneysavingexpert.com/forumdisplay.php?f=22
Sorry. I was unsure which one to post in but I figured the up your income was possibly better as it would have full time workers with a second job which was related to what advice I needed 0
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