Setting up Mobile Business

[Miss Bliss]

Hi all,

Sorry to ask yet another! BUT I work full time at the moment (secretarial) and when I qualify next month after my NVQII I am going to start my mobile business evenings and weekends, please can anyone tell me what has to be done in respect of tax etc, how much they take if you have another full time job, how you register it etc? Any info would be fab!

:lol:

Thank you

xxx

 

[Laura M]

Hi
You will have to inform the local tax office and you will get sent a form in April, all you do is fill it in with your figures from your P60 and whatever earnings you get from your self employed work. It really is quite simple,and the tax office are very helpful, but you do have to register with them, unless..... you are dealing with cash only. it is your risk!!!

 

[Laura M]

....Oh yeah, any earnings over 31K (I think roughly) then you will be taxed at 40%.

 

[Silver Fern]

The earnings you declare are your profit, ie after you have taken off your expenses - like petrol, products, equipment etc so it may be in the first year you don't have any profit to declare so will not have any tax to pay. You still need to register though!
Good luck!
Natalya