Do I have to become self employed?

[Pippit]

Hi,

I have just started my own business doing Shellac nails, I have been practicing since I did my course in Nov 2011 and now about to get my business cards and really start to promote my business. I will be mobile and doing part time, school hours only.

My question is as I know my hours will be limited, I have a pretty good idea of the max amount I could earn and this would not take me over the tax threshold. If this is the case do i still have to register as self employed ? keep all my receipts for stock etc ( which I am doing anyway), record my mileage, get an accountant etc , etc ? Or can I just think of it as a hobby? and not have to do anything else. I have asked a few people and looked on the government website about starting a business but still not really clear. Thanks

 

[frankie91]

Yes you still have to register, i am still in my first year of business and will earn way below the tax threshold but you have to still register as you are still earning money!

Sent from my GT-I5800 using SalonGeek

 

[ballyboo]

You definitely need to declare your income, even if you don't end up paying tax.
If you are taking money for services, then it isn't a hobby my lovely.
It's really simple and doesn't take long, I just called HMRC and they did everything over the phone.
Good luck x

 

[topcuts]

Um YES!! Dont even think about not registering someone somewhere will snitch on you (which is fair cos we all have to pay to play) then they will look at everything over and over including partners etc. Good luck with it and as someone said you will probably remain under the threshold so its just about being legal and conscience clear.

 

[Pippit]

Thanks for the messages. Of course I want to do things the right way ,just wasn't sure how it all worked. I will sort it out now, before I start giving my business cards out and hopefully getting some paying clients!