Starting self employment 2hrs week

AG47

marliepanda wrote: »

No cleaning job of one hour a week has £20 allowable expenses a week. That!!!8217;s simply not a thing.

I had to buy all the cleaning equipment needed, it’s will take a while to pay back

AG47

jobbingmusician wrote: »

There's actually a new rule about SE as well. You don't have to register as SE with HMRC if you earn less than £1000 a year.

https://www.gov.uk/working-for-yourself says

You'll need to register for Self Assessment if any of the following apply:

• you earned more than £1,000 from self-employment between 6 April 2017 and 5 April 2018
• you need to prove you're self-employed, for example to claim Tax-Free Childcare
• you want to make voluntary Class 2 National Insurance payments to help you qualify for benefits

You'll need to register for Self Assessment if any of the following apply:

• you earned more than £1,000 from self-employment between 6 April 2017 and 5 April 2018
• you need to prove you're self-employed, for example to claim Tax-Free Childcare
• you want to make voluntary Class 2 National Insurance payments to help you qualify for benefits

So from this point of view I don’t need to register

Is there any other reason I need to tell anybody?

Electrum

AG47 wrote: »

So from this point of view I don’t need to register

Is there any other reason I need to tell anybody?

You would be wise to register anyway, even if you dont have to.

jobbingmusician

Why? This is a fairly new rule, and has obviously been implemented to save HMRC wasting time registering and checking loads of tiny businesses.

AG47

jobbingmusician wrote: »

Why? This is a fairly new rule, and has obviously been implemented to save HMRC wasting time registering and checking loads of tiny businesses.

Ok so can anybody else confirm this, you don't have to register if earning less than £1000 per year?

AG47

From the self assessment point of view I don't need to declare,

But what about any other point of view?

AG47

Savvy_Sue wrote: »

this question is regularly done to death on the Cutting Tax board, and doesn't always end in complete agreement.

Once upon a time, HMRC said you must register as self-employed within a set time period and you could be fined if you failed to do so.

Then they said you must register at the start of your self-employment and you could be fined if you failed to do so.

Now they seem to have back-tracked, at least partly because defining 'the start of your self-employment' isn't always a simple thing.

And to add to the confusion, if you are not required to pay any tax because your total income from all taxable sources is less than your personal allowance, there's an argument which says you don't need to register at all.

However, you DO have to keep records, both for your own peace of mind and so that you can 'prove' - to HMRC, DWP or anyone else who has the right to enquire into your financial situation - that your income from all taxable sources is less than your personal allowance.

Now when you say you're a 'full-time carer', are you in receipt of Carers' Allowance? Because what you're allowed to earn in addition to that is a Very Small Amount - you'll know better than me how much that is.

And when you say you'll apply for a small earnings exemption, is that in relation to self-employed National Insurance? Because I don't think that exists any more: you used to either apply for that, or set up a DD for your NI, but now it's worked out when you submit your tax return.

Personally, I think I'd register, even if I didn't expect to have to pay any tax. It's not particularly onerous, and it would give me peace of mind to KNOW I didn't owe any tax, to KNOW I hadn't earned more than I was allowed to while claiming CA, and to KNOW that if I was ever investigated I'd be able to produce my records just like that.

Sue do you think I should register?

Savvy_Sue

Having forgotten about the provisions JoJo mentions, I'd say it was less important.

However, I'd keep the same records as you'd need if you were registered as self-employed, because you ARE self-employed and need to be certain of your earnings, both from a tax and from a benefits point of view.

AG47

Savvy_Sue wrote: »

Having forgotten about the provisions JoJo mentions, I'd say it was less important.

However, I'd keep the same records as you'd need if you were registered as self-employed, because you ARE self-employed and need to be certain of your earnings, both from a tax and from a benefits point of view.

Thanks Sue

Yes keeping good books, I have high expensis first year

sheramber

The £1000 for registering as self employed refers to gross income before expenses.