Advice

[shell28]

This may be a silly question but....

What happens if you register self employed and you dont earn much money for that year. Say you only earn about £400 whats happens about tax and ni and also can you still claim your expenses??

Sorry if daft question but got so many business questions going through my head

 

[sam28]

Personally I would ask an accountant because tax and ni always has me in a spin ! I know that you can claim your expenses definitely, you will still have to put a tax return in and your ni contributions may not have to be paid if you havent earnt alot (but whether or not you will need to speak to Rev and Customs about that). But like I say speak to a professional about it, then you're getting it from someone who definitely knows hun. Hope that helps a tad ! xx

 

[hippy-chick]

If you only earn a pittance I think you can register for the lowest NI contributions their is, its a tiny amount and well worth doing it otherwise you'll end up with a shortfall.

remember that you can earn up to £4600 tax free so you won't be liable for tax, but to be above board, still fill in your tax form.