I am really sorry if this has already been answered, I have tried looking but cannot find the specific answer.
I have just finished my full time job and next week I start renting a room in a hair/beauty salon mon tues and sat doing nails and will work in a pharmacy wed thurs fri.
I went for a free consultation with an accountant and she fille dout the tax forms I needed (but this was when I was going to be working full time and doing nails 1 day) should I have recieved a ocnfirmation from the inland revenue of my declaring myself self employed? and do i need to ammend the form now that I will be paying less NI through the employed work???
The acountant said I should keep all my reciepts and rite them in a book, and that dividing it into catagories would help, how much do i need to break things down? products/disposables/cleaning/uniform/equipment/stationnary/training/travel
??? how much do you break down your receipts?
and with the takings I have bought myself a book with collumns so i can keep note of how much I make on each area, but do I really need that for tax purposes? (as i can seemyself not wanting to be bothered every day to fill it in after a few months!)
how do you record your takings? just 1 colomn? and daily or weekly? Is it a good idea to bank everything so that I have a bank statement to back myself up? so even if i need £5 for loo roll for example, should I pay it into the bank and then pay on card? I know it's not essential but would that be sensible or am I over complicating things?
I hope I have made sence!
Thanks for any advice! xXx
I have just finished my full time job and next week I start renting a room in a hair/beauty salon mon tues and sat doing nails and will work in a pharmacy wed thurs fri.
I went for a free consultation with an accountant and she fille dout the tax forms I needed (but this was when I was going to be working full time and doing nails 1 day) should I have recieved a ocnfirmation from the inland revenue of my declaring myself self employed? and do i need to ammend the form now that I will be paying less NI through the employed work???
The acountant said I should keep all my reciepts and rite them in a book, and that dividing it into catagories would help, how much do i need to break things down? products/disposables/cleaning/uniform/equipment/stationnary/training/travel
??? how much do you break down your receipts?
and with the takings I have bought myself a book with collumns so i can keep note of how much I make on each area, but do I really need that for tax purposes? (as i can seemyself not wanting to be bothered every day to fill it in after a few months!)
how do you record your takings? just 1 colomn? and daily or weekly? Is it a good idea to bank everything so that I have a bank statement to back myself up? so even if i need £5 for loo roll for example, should I pay it into the bank and then pay on card? I know it's not essential but would that be sensible or am I over complicating things?
I hope I have made sence!
Thanks for any advice! xXx