how to become self employed?

[mark_goldfinch]

hi all, hope all is well. what do i need to do to become self employed if and when i find a job, are there lots of forms and stuff i need to fill in, i havent a clue as i have only ever been PAYE. And what, if any loop holes are there where i can claim black money ie for training and equipment. any help would be very much appreciated. thanks.

[skyhuck]

Just tell the tax man and start paying your NIC.

[mark_goldfinch]

Just tell the tax man and start paying your NIC.

 

as easy as that? brillient.

[niftysteve]

as easy as that? brillient.

 

keep all receipts

 

 

if you dont like the paper work side of things find a good accountant keep an enevelope of receipts for each month then give them to the ac once your tax return arrives

[chilli]

Google going self employed. Set up direct debit for NI. Buy a columnar book from stationers. Log in all receipts & expenditure. Keep all receipts & invoices. Use a local accountant. Claim for all expenses. Learn lessons the hard way. Good luck.

[GMan]

Hi Mark

 

Follow this link to the basics mate

 

HM Revenue & Customs: Tax returns if you're self-employed or in a partnership

 

Basically you have to register within 3 months of going self employed, you need to think carefully on the timing as there can be advantages if you choose the month right etc.

[burrell_]

when i went self employed i went to see a accountant he done all the paper work for me just had to sign some papers

he told me i done the rite thing going to see him first as he new what papers to fill in what details to give them etc

got see a accountant they will do it all for u easy

[Rupe]

What do you mean by self employed when you find a job?? If you find a job then you are employed.

 

Self employed is for folk who dont have a job, but they find a days work here and there and do their own tax etc.

 

What is it you are trying to do??

[Rupe]

And you cant claim any money back for anything, you just dont pay tax on things like training, PPE etc etc. No one is going to give you any money back.

[doobin]

Learn to use a spreadsheet. You don't need an expensive accountant for the first few years.

 

Plus if you do it on a spreadsheet you have realtime analysis of how the business is doing. Very important.