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Need to pay tax for short contract of work?

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Comments

  • QrizB
    QrizB Posts: 20,377 Forumite
    10,000 Posts Fourth Anniversary Photogenic Name Dropper
    That taxationweb poster had an encounter with an umbrella company back in 2019:
    One might think they'd remember that.
    N. Hampshire, he/him. Octopus Intelligent Go elec & Tracker gas / Vodafone BB / iD mobile. Ripple Kirk Hill Coop member.
    2.72kWp PV facing SSW installed Jan 2012. 11 x 247w panels, 3.6kw inverter. 34 MWh generated, long-term average 2.6 Os.
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  • Grumpy_chap
    Grumpy_chap Posts: 19,263 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    May not be the op but someone is asking remarkably similar questions here 🙄

    https://www.taxationweb.co.uk/forum/viewtopic.php?f=9&t=61275&sid=f2ac5a63fc2d428827aaaf001b76a136
    Well, the same number of days, the same amount of money, the same period of time and the same spelling of "payed".

    All the more proof that the OP cannot afford not to engage the professional services of an Accountant.
    They are certain to get into a mess without, plus this will get the whole matter over and done with.
  • sheramber
    sheramber Posts: 23,431 Forumite
    Part of the Furniture 10,000 Posts I've been Money Tipped! Name Dropper
    faringdon said:
    Thanks, i am not sure about setting up a ltd company yet...i think i will work as a sole trader and see how the tax return goes before i step up to the ltd company thing.
    I think an accountant is for a fully fledged business with multiple staff, not for a single joe_bloggs like myself....i doubt i can afford an accountant.  Anyway, i search on the internet and i dont know who is a bona fide accountant and who is a scammer.

    I still dont know how one can proove that one earned x pounds in a contract?.....i mean, people could lie.......how do i proove that i really did earn £2538?.....i mean , i have a bank statement in my personal bank account (its not a "business account")....but is that enough?...maybe its not adequate and the HMRC will  raise a fine?
    The company who paid you will show the payment in their returns.

    This is another example of your lack of understanding and the need to use a tax adviser  to avoid incurring excessive tax demands, or fines or  penalties  for incorrect tax returns. 
  • jgh
    jgh Posts: 177 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    As inferred from other comments, NEVER leave doing your taxes until January. I typically do mine in July.

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