AQAers

baxgttdi

Sorry to bug people but I just wondering if any AQAers could pass me on the following info.

Did you register for self employment when you got your initial acceptance or did you wait until you have everything signed and a starter pack etc?

How long roughly did training take you?

Lastly, what method do you use for keeping track of tax? Do you put some away seperate or just estimate about a quarter or any other methods .

Apologies again as it's only vaguely DFW related but i thought some of you lovely people might know the answers.

Dave

baxgttdi

Mr Berty Bump

lindens

I think youve got 3 months from when you start as self employed to actually register with the Taxman so it will be OK to wait a bit.
Its probably better to put away 25% in a savings account as its earning interest that way

Burlesque_Babe

I registered as soon as I was accepted and I was sent a pack by the tax people.

Training is done over one session and then a review a few days later.

mrsspendalot

I haven't registered yet - waiting until I have done my introduction and first review, then will get it all sorted.

LindseyM

I haven't yet either - I'm waiting to see what my actual earnings will be first

tyllwyd

I wouldn't register until you have signed and done your initial training - otherwise you might decide it's not for you and if you've already registered as self-employed you will have complicated your life unnecessarily.

If you have a full time job so that you are already a basic rate tax payer, putting aside 25% of the money you earn until the tax bill arrives should mean that it is not a nasty shock. You might have to pay Class 2 National insurance, and if you do it is about £8.80 per month by direct debit.