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Second income - tax advice
Clarence86
Posts: 1 Newbie
Hi all,
I work part time for my local Ambulance Trust and have started to do some private ambulance work on days off on a bank basis. I do not get taxed from the private work and have been putting money aside to account for this.
Firstly, how do I go about informing the HMRC about being taxed on this second income. The amount varies from month to month.
Secondly, how do I go about claiming tax back on fuel and other expenses when working as I travel long distances and stay away from home. I have been keeping receipts etc.
And finally, the private work may eventually be my main income and I am thinking of setting myself up as a medic for hire in the future. Would this be classed as making myself self employed? I am in the process of buying a van that I can convert and stay in overnight for when I am away from home. Is there anyway of making this work in my favour?
As you can probably tell from the above, I'm not very familiar with the tax system so advice would be greatly appreciated. I want to do things right and not make any mistakes.
I work part time for my local Ambulance Trust and have started to do some private ambulance work on days off on a bank basis. I do not get taxed from the private work and have been putting money aside to account for this.
Firstly, how do I go about informing the HMRC about being taxed on this second income. The amount varies from month to month.
Secondly, how do I go about claiming tax back on fuel and other expenses when working as I travel long distances and stay away from home. I have been keeping receipts etc.
And finally, the private work may eventually be my main income and I am thinking of setting myself up as a medic for hire in the future. Would this be classed as making myself self employed? I am in the process of buying a van that I can convert and stay in overnight for when I am away from home. Is there anyway of making this work in my favour?
As you can probably tell from the above, I'm not very familiar with the tax system so advice would be greatly appreciated. I want to do things right and not make any mistakes.
0
Comments
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on the face of what you post it appears your second job is being treated as self employed by whoever is paying you to do the work. Whether that is legally correct or not is another matter, but at this point in time you are in receipt of "self employed" income from which no tax has been deducted and so you must register now, not when you think this work will become your "main" job
on that basis, the absolute deadline by which you must inform HMRC is the 5th October of the second year in which you first started to get such self employment income. Naturally it is much better to inform then as soon as possible, not leave it until that date.
read
https://www.gov.uk/log-in-file-self-assessment-tax-return/register-if-youre-self-employed
as for how to calculate your self employed profit and what are eligible costs etc please use google, there is tons of info on self employment online. here is a starter, there are many other more detailed websites you can find yourself:
https://www.gov.uk/working-for-yourself0
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