Daily Chat Thread 31st March

immoral_angeluk

OH....MY...GOD tomorrow it's April!!! This year is flying by!!!

Anyway, I digress... how's everyone this fine but rather grim looking morning... grey skies and occasional drizzle here.. :rolleyes:

I do have a question if anyone knows the answer..
I had my first AS party on saturday so properly started working so I need to register as self employed... I take it as I had my first party on saturday that I'll have to do a tax return for last year??? Or will I not have to do one if I register tomorrow? In all honesty the idea of doing a tax return scares the bejeebus out of me! Once you do you do you have to pay a massive bill there and then? How does it work?

Burlesque_Babe

erm, you're a bit premature love, it's March still!!!!

Morning all!!

D'oh, just realised you said tomorrow!!!

The tax year starts on 5 April, so anything you've earned up to then will go on this years form.

If you do one for this financial year, you'll have to file and pay your bill by Jan 31st 2009. Depending on your other income will decide if you even have to pay any tax as you will also enter the details for your salaried work at Argos. If you register online and then file it online then it works it all out for you and you can pay it online with a debit card. You then have to pay it in one go (by 31 Jan), but they say you should put aside 22% of your earnings so you won't be faced with a big bill .........must learn that one some time!!!

The bit I found to be the biggest pain was registering. You register and then they send you a letter with a code, which you have to activate in x number of days and then you have to register on a separate bit to pay by debit card which has a different log in and password - it was a bit of a pain if I remember but once that's sorted, then the filling the questions is quite straightforward.

when you get your P60 from Argos in the next couple of months, that will give you everything you need for that section - amount earned, tax paid, company address etc you'll just need to remember your start date with them for one of the boxes.

jacs76

morning IA i haven't spoke to you in ages (so it seems) you have been nice and busy earning pennies so i shall let you off:D

its hopefully going to be another nice sunny day here today.

this month (ie april) is going to be get rid of the stupid bills hanging over my head paying £1 a month job! soooooooo i have an idea ish how much i have to survive on this month i just need dh wage slip to confirm exact amounts.
i am a bit nervous in posting amounts as it seems lots but dh is in the army and there are mess bills and do's that he has NO CHOICE in going to /paying for,yes i know they wouldn't get away with it in civvy street but thats the way the 'cookie' crumbles i'm afraid.
so if i'm brave enough to ask for help later please help me if i can stop spending and pay these stupid bills i might just be debt free in a few months:T
may will be clearing 'home shopping' bills :eek:

jacs76

morning keren too x

Burlesque_Babe

mooooooooooorrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrnin jacs (that was my try at a Dorset accent!)

jacs76

are you not from dorset originally then,so it would come naturally lol

Toto

Morning everyone, I've just been rocking out to a bit of Journey, that's the way to get the kids out of bed I'm loving having the kit back and I know i'm only supposed to be doing a few rudiments every day but i just couldn't resist seeing how the chops have held up over the past few months.

jacs, be brave, post your figures. If there is expensive stuff you have to pay that's just how it is. Besides who am I to judge when we have a small detached house tied up in various muso type stuff. And no matter how much we earn it's still possible to spend too much. I won't post our income figures because people would wonder how the hell we manage to struggle with cash sometimes, but it's feast or famine usually, all invoices in and once or nothing for months. So, if you need help just ask, no one will think anything of it.

immoral_angeluk

So it doesn't matter if I register today or tomorrow I'm still going to have to do one?

Burlesque_Babe

if you've done any self employed work up to and including 4 April, yes.

Registering is dead easy, just call them and they take your name and address and what you are doing.

Tell them you are already paying National Insurance through your salaried job at Argos and they will send you a certificate that makes you exempt from paying extra NI contributions.

If in 2008/2009 you are going to earn over £4000+ (can't remember the exact figure) on AS, you'll need to just call the NI office and they will arrange for you to pay the extra NI, it's done by DD and is something like £2.20 a week.

Doing one this year with just a party or two under your belt will be good practise for getting your head around it all for this time next year when you'll be sales woman of the year !

If you haven't earned £5,220 (basic personal allowance) across both jobs then you won't have any tax to pay and even if you do, it will be literally a few pounds - 22% of your profit.

immoral_angeluk

Toto wrote: »

Morning everyone, I've just been rocking out to a bit of Journey, that's the way to get the kids out of bed I'm loving having the kit back and I know i'm only supposed to be doing a few rudiments every day but i just couldn't resist seeing how the chops have held up over the past few months.

jacs, be brave, post your figures. If there is expensive stuff you have to pay that's just how it is. Besides who am I to judge when we have a small detached house tied up in various muso type stuff. And no matter how much we earn it's still possible to spend too much. I won't post our income figures because people would wonder how the hell we manage to struggle with cash sometimes, but it's feast or famine usually, all invoices in and once or nothing for months. So, if you need help just ask, no one will think anything of it.

Glad to hear you're back in the saddle How's the bump?

Toto

I believe you have to register within 3 months of becoming self employed sar. But yes, I would say you need to register and will have to do the tax return in January 2009 for the year 2007/2008.