4 times a year Tax Return for self employed?

[surf girl]

It depends how long you've been trading as if it's not long and you can prove you are being careful within your budget competitive with your prices offering what your clients want getting in more than spending out ect they will class you as a start up. How I see it is I've got a year pretty much to earn a large wage or if my business can't do that I will be classed as a hobby business as it doesn't give me a good enough wage. They don't ask how much your turn over has increased any major purchases you've had due to expansion or repair and maintenance, if you have employees ect. It's very black and white and they are very cagey about how they make the decision and what the criteria is! It's ridiculous. So basically I have a year to work my ass off even more! Luckily christmas was very good for me and the clients have mostly rebooked for jam or feb which is keeping the momentum going, still a worry though.

If given myself a personal goal to be off it in a year anyway but it's such a worry, Xmas was good for me too but after all the bills and my latest stock order there's enough left to cover the electric bill when that arrives, I started trading in October 2013 so I've been going 2 years now, turnover for year 14-15 was more than the outgoings by about 2k and this year will be around 4k more than the outgoings if business continues as it is :/

 

[byKaty]

It depends how long you've been trading as if it's not long and you can prove you are being careful within your budget competitive with your prices offering what your clients want getting in more than spending out ect they will class you as a start up. How I see it is I've got a year pretty much to earn a large wage or if my business can't do that I will be classed as a hobby business as it doesn't give me a good enough wage. They don't ask how much your turn over has increased any major purchases you've had due to expansion or repair and maintenance, if you have employees ect. It's very black and white and they are very cagey about how they make the decision and what the criteria is! It's ridiculous. So basically I have a year to work my ass off even more! Luckily christmas was very good for me and the clients have mostly rebooked for jam or feb which is keeping the momentum going, still a worry though.

But that's the thing, most start ups don't make anything their first year, if they are lucky they might break even in the 2nd year. I k ow I've Def not made anything this first year.
God they have to make everything so difficult, I don't think it's fair that you are classed as a hobby when you've been busting your balls getting a business off the ground.

 

[sarahpoppy24]

They have been starting all this a while ago. Basically they don't want to give people help in the form of tax credits etc they are being abolished and everyone will have to sign on at the Jobcentre like people on the dole have to soon. (Google universal credit). If you want to get any income top up at all. I think it's stupid myself as if they gave people a leg up in the first few years they would then make a business and start employing people and making a good living in years to come. Lot of people where I live are on low income and struggling with changes bills childcare etc my clients tell me all about it. My income is ok, but I would not be able to have kids in this climate, I don't have a partner but say I did and he left me. What would I do? I don't know what's going to happen I really don't xxx

 

[Flying Beauty]

Just another way to poop on the poor! I bet no measures at all, are being made to address the tax dodging Giants and their off shore accounts. [emoji57]

 

[Grace_Hair]

I got the email to say it's been spoken about in House of Lords/government or something?

Anyone get that and read the transcript?

 

[surf girl]

http://www.salongeek.com/threads/hmrc-tax-credits-self-employed-being-assessed.298092/#post-2473025

This is some more reading on the tax credits situation

 

[Marilyn Monroe]

I was refused tax credits aside explained in my other reply. I had to appeal and it was a nightmare. The first time I had sent two certificates on hair and one beauty as they wanted proof I was qualified along with other requests. When I called to ask about it she was so condescending and said "to prove you're not a hobby you need to be doing regular training to improve yourself, they do all sorts now even like gel nails maybe you could look into that!"
It was hard to politely say sorry I didn't realise you wanted the last 12 years worth of certificates. I am fully aware of gel nails in fact I am qualified to teach such courses! Grr angered me so much.

 

[surf girl]

I was refused tax credits aside explained in my other reply. I had to appeal and it was a nightmare. The first time I had sent two certificates on hair and one beauty as they wanted proof I was qualified along with other requests. When I called to ask about it she was so condescending and said "to prove you're not a hobby you need to be doing regular training to improve yourself, they do all sorts now even like gel nails maybe you could look into that!"
It was hard to politely say sorry I didn't realise you wanted the last 12 years worth of certificates. I am fully aware of gel nails in fact I am qualified to teach such courses! Grr angered me so much.

So do they suggest things you could do to improve your business?

 

[pure]

I was refused tax credits aside explained in my other reply. I had to appeal and it was a nightmare. The first time I had sent two certificates on hair and one beauty as they wanted proof I was qualified along with other requests. When I called to ask about it she was so condescending and said "to prove you're not a hobby you need to be doing regular training to improve yourself, they do all sorts now even like gel nails maybe you could look into that!"
It was hard to politely say sorry I didn't realise you wanted the last 12 years worth of certificates. I am fully aware of gel nails in fact I am qualified to teach such c

Oh my goodness please tell me I don't have to send every one of my certificates?! I have loads and the newer CND ones are A3

 

[Marilyn Monroe]

So do they suggest things you could do to improve your business?

Yes she patronising Lynn said to do some courses.

 

[surf girl]

Yes she patronising Lynn said to do some courses.

My question would be who's paying for the courses?? My unviable hobby business?? They need to get real

 

[pure]

What's the betting that none of these so called 'advisors' have ever run their own business or attended a business course in their lives! They've probably always been civil servants and never even worked in the private sector