Just having a panic attack
Am I right in thinking that as a self employed nail tech I will only be taxed on wages and what's left in the bank?
My accounts are due in at the accountants 1st April and I've been spending like crazy stocking up on products to bring my profits down. I haven't paid myself any wages in my first year but I do have taxed wages from another job.
I have enough in my account to cover national insurance and accounting fees
Have I done the right thing!
Am I right in thinking that as a self employed nail tech I will only be taxed on wages and what's left in the bank?
My accounts are due in at the accountants 1st April and I've been spending like crazy stocking up on products to bring my profits down. I haven't paid myself any wages in my first year but I do have taxed wages from another job.
I have enough in my account to cover national insurance and accounting fees
Have I done the right thing!