Hi I would greatly appreciate any advice someone could give me on..setting up my business from home.....Basically I've done the spray tan course, I've bought the equipment and set up in my dining room...lI'm. advertising.through social networks and have some flyers printed out...today I.had my first paying client......I am a full time mum to 4 children and my husband works. So I will be able to offer my services when.I have someone to watch my.children, or they are at school....what I would like to know is I can't predict how many people I will be spraying a week, as I'm new to this and its going very very slow! To keep up with prices in my area I can.only charge £12 as my top rate ,using my best solution, for the cheaper solution I charge £10.per spray tan...I'm struggling twith the whole Self Employment taxes and what I have to pay etc? As I.say I can't forecast how much I will earn a.week, as I may not earn anything one week and only £20 the next...and I am worried the impact this will have on.the child tax credits and working.tax credits that I have coming into.the home...if anyone could help me out here I really need.it, as I'm.beginning.to.think this isn't the route I should be taking .
Advice needed for setting up a spray tan business from home
- Thread starter Jojo80
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Help Support SalonGeek:
CrunchBunch
Well-Known Member
The best advice I can give you is to call tax credits and talk it through with them, they're very helpful. Have you registered as self employed? You need to do that within the next 3 months. As far as I know, it shouldn't affect your tax credits this tax year but depending on what you earn it may do next year. Keep a record of all your ins and outs, and remember you only pay tax on profit, not turnover, so take into account training, equipment and insurance costs. Online self assessment for taxes is well easy, and you won't need to pay any tax until Jan 2014 - although it's wise to set a bit aside from each client to cover it. Good luck!
