Help please. self employment? 2 May at 11:16AM in Small Biz & Charities' MoneySaving 5 replies 321 views

elephantarse

Please can I have some advice, please no negativity as I am feeling really anxious about everything at the moment and I just want to get things straight
I bought my house, moved out into my boyfriends home, so I rent my house out. My bf is self employed and I started to help him with admin work, he started to pay me weekly. There is a book-keeper that comes and he asked him to sort out my 'self employed' status and it will be part of his job. 
He hasn't done anything on my side and I am worried as need to get it sorted out. Where do I start? I have tried looking at gov websites but its really confusing as I want to register as self employed but it says 'sole trader' really don't know where to start and where time has gone on I just don't know what to do. Once I get the right direction I think I will be able to do it all I just don't know where to start, I tried looking into it before and thought I had signed up and would receive something in the post but never did. I am not trying to evade anything I just don't know where to start. 
When I first started renting I was told I didn't need to declare it, but now I am getting a small wage a week too. 
Thank you

Pennywise

If you're only working for your partner and using his equipment etc., then you're not self employed - you're his employee and he should set up a PAYE scheme to pay you.

elephantarse

I don’t know why I didn’t ask him, I just did and that’s correct! Thank you.
so do I need to register as a landlord - how would I - do I do anything else - mention this other job

Savvy_Sue

Your profit from renting out the house needs to be added to your salary, and you probably need to to a tax return to work out how much tax is due. 

Head over to the House buying, renting and selling board for help on being a landlord. It's not for the fainthearted. Have you put the deposits into a deposit scheme? Had a gas and electrical inspection? Fitted smoke alarms? No, I don't know if ALL of them are necessary, but I know the first one is. 

And do you know what is and is not declarable as expenses from the rental? Can be a bit of a minefield. 

elephantarse

Thank you, yes I used an estate agent to set up the rent, Also in a deposit scheme, all checks done.
Im happy to do all the work it’s just where to start with it all, thank you I will head to the forum.

Grumpy_chap

With property rental income plus employment income (whether that's PAYE employee or sole trader), it is probably worth getting an Accountant to do your tax return.  It should not cost that much, possibly pay for itself with allowances properly identified and will take away a load of headaches.