Self Employed??

[STEPHC195]

I have recently started doing mobile spray tans and need some advice on the legal part of it!!
I know that I don't have to register for VAT but is it worth doing? Does it mean I would have to pay VAT on the money I am earning?
Also do I have to pay tax and NI on the money i'm earning? Or is it if your just earning more than a certain amount per year?
This is a second job for me as i'm already employed, would that complicate things or can I be both self employed and employed?? I'm so confussed, any info would be much appreciated!!

Thanks

Steph x

 

[nailtech2b]

hi,

I am by no means an expert on this kinda thing but as far as I know, no matter whether you have 1 job or 10 you need to declare your earnings and pay tax and NI on them.

You only need to be VAT registered if your earning a silly amount of money, cant remember exact figure.

If you contact inland revenue and explain that you have an existing job but are also earning doing your mobile tans they can point you in the right direction, they are very helpful and not as scary as you may think.

hope this helps

 

[Missy G]

Contact the Inland Rev they have all the information , they can also put you on a couple of free courses which give you loads advice on what you can claim for and how to do self assesment online.

 

[cathill]

You dont need to be vat registerd unless your earning buckets full so wouldnt worry about that you do need to pay tax although you can earn up to 4000 tax free, You will pay class4 ni but makesure you also set up a direct debit to pay class 2 as this is what you need to be paying if you ever require any benefits maternity allowence/ pension. but get intouch with your local job center they will head you in the right direction. x

 

[tigi]

you only need to pay vat if you earn over 60K a year so no need to worry about that then. but yes, you can be employed and self employed.

You will need to declare your earnings and so you have had good advice about all that already.

One thing i would add is to find a good accountant, go along and get advice, most accountants will give you a free first session (ask when you book the appointment) so you can ask all the questions you want and if nothing else you will have had some sound advice on which to start your business!. You can do your own tax returns if you want , but i would always suggest going to see an accountant in the beginning because you may find that the costs are a lot less than you thought they would be.

lots of luck and dont forget to let us know how you are getting on

tigi

 

[Ditzy]

Hi hun. I'd also add, contact your local business link Business support, information and advice | Business Link . They do free business start up courses, I went on one, it was really helpful, and the lady answered any questions any of us had. There were only about 10 people, and most of the questions we all asked were relevant to each other. They also give you loads of leaflets, and I'm sure someone else will advise of the many other things they can do for you.

Good luck with your business.

 

[Miss Bliss]

Hi there

I am in the same situation as you, I work full time and am a qualified mobile beauty therapist and spray tanner.
One of my friends is an accountant and I sought advice from her she told me that I have to register on the HMRC website as a sole trader which I did and now I keep all receipts etc and she has told me that they will be in touch and I can do my tax etc online in April when i hear from them I have insurance but apparently that is all I need to do for now.
Hope this helps, I am also waiting for a call back from business link though as apparenlty they can help out with things like this.

x