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CSA and self employed
mikesw15
Posts: 4 Newbie
Im thinking about going self employed but am i correct in thinking that because i wont have done a self assessment that CSA will work out what i have to pay going on my gross earnings ?
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Comments
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You need to estimate your profit figures and pay child support based on that. Self employed NRP's are the most difficult for CSA to calculate as you don't need to send in your self assessment until the following year so they have no real proof of your profit so they rely on what you tell them. You can tell them you take nothing from the business and they must use that figure and calculate CSA based on that. I wouldn't underestimate it too much though.Im thinking about going self employed but am i correct in thinking that because i wont have done a self assessment that CSA will work out what i have to pay going on my gross earnings ?:footie:
Regular savers earn 6% interest (HSBC, First Direct, M&S) Loans cost 2.9% per year (Nationwide) = FREE money. 0 -
You need to estimate your profit figures and pay child support based on that. Self employed NRP's are the most difficult for CSA to calculate as you don't need to send in your self assessment until the following year so they have no real proof of your profit so they rely on what you tell them. You can tell them you take nothing from the business and they must use that figure and calculate CSA based on that. I wouldn't underestimate it too much though.
does the company i work for have to disclose how much im earning ?0 -
Might be worth posting this on the Child Support board as well.
http://forums.moneysavingexpert.com/forumdisplay.php?s=&daysprune=&f=1400
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