Advice needed....

[Suzy Q]

.... I know some of you have full time jobs and work as nail techs on a part time basis. Once I qualify, I would like to do everything properly, like registering as a business, sorting out taxes, etc. I have checked my contract at work, and it doesn't mention anything about having another job, although I know of one person who used to work at my organisation who had two jobs, and my employers were not very happy.

Have any of you had any problems with employers, and what effect would having two jobs have on my taxes?

Thanks for your help,

Sue x

 

[zobo]

hi suzy

dont worry theres nothing legally they can do if they dont have anything official on paper!

i am thinking about taking up a self-employed position at a local salon, renting a room there, initially part-time and then hopefully full-time when i build up my clientele.

I work full-time at the moment, and the company i work for doesnt have a policy on working a 2nd job

 

[Bryony]

Sue,

I am in the same boat and only just started so it's pretty fresh in my mind!

My current employer is fine about a second job, as it is not in competition with thier business and doesn't affect my hours workign with them (if you were working all night and coming to work falling asleep I think they'd be within their rights to ask you to quit the part time! LOL!!)

You have 3 months from when you set up but then you MUST register for tax and NI within this 3 months- if you don't the fine is about £1000 I think. The number you will need to call is 0845 9154515, you will need your NI number to hand when you call and they''ll ask a couple of other questions.

Depending on your current job and how much your part time work will make, you may be able to claim small earnings exemption which means you won't have to pay NI contributions on your part time work - they will go through this with you and advise if you fall under this category. (although they said I did and would send a form but sent me a bill instead! Got it sorted no probs but had a slight panic!!LOL!).

You will need to keep a record of all your incomings and outgoings, receipts etc. You will receive a tax return each year which you will need to complete (or get an accountant to do for you) to determine how much tax you need to pay.

If you check out www.inlandrevenue.gov.uk you can have a look at the info on there, call them or request leaflets to give you further info. I also contacted business link in my area and they've been really helpful in sedning easy to understand info and given startup advise - check out www.businesslink.gov.uk.

If you need any more help, feel free to PM me.

B x

 

[scattyfox]

Read the following thread i got loads of help from fellow geeks and should answer most of your questions in regards to sel employed rules and regulations

http://www.thenailgeek.com/showthread.php?t=12577&highlight=rules+regulations

HTH

 

[Suzy Q]

Thanks very much guys! This has really put my mind at rest. My team mates keep on asking me if I want to start doing nails on a professional basis, and I've been really cagey with my responses because I didn't know what the implications were. I'll pass this info onto my big sis who is on the same course as me. Thanks again!

Sue x