Help going self employed

[Amore Hair]

Hi Biz Geeks,

Looking for some advice. Im starting in a salon early may and am going self employed. I will be invoicing the salon on a monthly basis for my services, there is no cost bfor me, no rental of chair or anything like that, literally i go in and charge her for my services.

However as im only starting out with 1 day a week i have decided to keep my part time job on in a local shop on an evening, only 10 hours a week on an employed basis.

Im just wondering how been employed and self employed works? I know you can do it but cant seem to find any relevant information on the web?

Thanks. x

 

[Kate1982]

Hi I could be wrong but I'm pretty sure that the salon can't be charged for your services and you be classed as SE. This would be employed. Perhaps I mis-understood your post?
A self employed person will pay the salon a rent. Whereas an employed person gets paid by the salon.
If you contact the inland they will let you know which you come under.

 

[BeautyByNikki]

I do this, it's a percentage split. All money from clients goes to the salon then at the end of the month I invoice my percentage for my services.

I've had a couple of employed temp jobs since being self employed and the tax office just put me on an emergency tax code. You might pay too little or too less but when you do your tax return it lets you put employed details in so it can work out what to pay. Just make sure you're setting money aside each month to pay your tax at the end of the year.

It's perfectly feasible.

 

[Amore Hair]

I do this, it's a percentage split. All money from clients goes to the salon then at the end of the month I invoice my percentage for my services.

I've had a couple of employed temp jobs since being self employed and the tax office just put me on an emergency tax code. You might pay too little or too less but when you do your tax return it lets you put employed details in so it can work out what to pay. Just make sure you're setting money aside each month to pay your tax at the end of the year.

It's perfectly feasible.

Did you have o stay on emergancy tax code? My partime job is literally minimum wage for 10 hours a week, if i pay emergancy ill get none!!Im only keeping it on until i can build up some clients ect. xx

 

[BeautyByNikki]

I stayed but only because i did it for a month so it didn't affect me too much. Because you're already employed I assume you'll stay on that code until the end of the tax year.

Just speaking from experience, don't take my word for it. Call your tax office and they can clarify.