Self-employed

[Barbie]

I've just gone self-employed Does anyone know anything about what this means

Basically cos I've been freelancing for a couple of years people have been telling me to go self-employed but it always sounded like a foreign language to me, I finally got round to filling in this form and now I've just had a call and apparently I'm self-employed

I know it means I pay less tax (or something like that ) but anyone know anything more about it (preferably in Babs style language please )

(Sorry for such a grown-up thread on a Friday )

 

[puppylover]

Hubby is self employed - but I know nothing about it either except that you are in charge of paying your own contributions towards tax, NI etc to the Govt.


Not much help really am I????

 

[djchewie]

I've just gone self-employed Does anyone know anything about what this means

Breakfast
09:25 The Jeremy Kyle Show

10:30 60 Minute Makeover

TEA

11:30 ITV News Headlines

11:35 Quincy ME

LUNCHTIME (maybe a glass of Rose)

12:30 ITV Lunchtime News

13:30 Boot Sale Treasure Hunt

14:00 Our New Life in Everwood

14:59 London Weather

15:00 Pocoyo

TEA
15:05 Feodor

15:10 SpongeBob SquarePants

15:25 How 2

15:50 Skillz

16:00 Heartbeat

17:00 The Price Is Right

17:30 The Price Is Right

BETTER STICK THE DINNER ON

 

[DJNC]

Breakfast
09:25 The Jeremy Kyle Show

10:30 60 Minute Makeover

TEA

11:30 ITV News Headlines

11:35 Quincy ME

LUNCHTIME (maybe a glass of Rose)

12:30 ITV Lunchtime News

13:30 Boot Sale Treasure Hunt

14:00 Our New Life in Everwood

14:59 London Weather

15:00 Pocoyo

TEA
15:05 Feodor

15:10 SpongeBob SquarePants

15:25 How 2

15:50 Skillz

16:00 Heartbeat

17:00 The Price Is Right

17:30 The Price Is Right

BETTER STICK THE DINNER ON

And feed / walk / play with doggies

 

[pip uk]

There is actually quite a bit to it - I was self-employed for about 10 years. There's a fair bit you need to be aware of and it would be foolish to try and cover it here.

The best advice I can give you is to go and find yourself a decent "flexible" accountant and have a chat to him. Mine wasn't cheap but he saved me a fortune in tax and they do tend to know all the "angles"

 

[Barbie]

Hubby is self employed - but I know nothing about it either except that you are in charge of paying your own contributions towards tax, NI etc to the Govt.


Not much help really am I????

It sounds sooooo confusing

 

[sandi]

Firstly you'll benefit from getting a good accountant. He/she will dramatically reduce your tax at the end of the tax year (april -april)

Set up a tax account and start to put a percentage of your wage into it each month so you don't get a shock when you get your bill.

Start keeping all reciepts, you'll even be able to claim on work clothes, lunches etc.

 

[Barbie]

There is actually quite a bit to it - I was self-employed for about 10 years. There's a fair bit you need to be aware of and it would be foolish to try and cover it here.

The best advice I can give you is to go and find yourself a decent "flexible" accountant and have a chat to him. Mine wasn't cheap but he saved me a fortune in tax and they do tend to know all the "angles"

It is thru a company called CCS based in Isle of Man, they said basically I just let them know where/when I am working and send thru any expenses (even travel to work) and then they invoice my client and pay me Does that sound right??

 

[grego]

you can claim VAT expenses as a business expense, so you claim back petrol, travel, lunch, etc, etc.

i think it affects your PAYE/NI contributions but i can't remember how.

MarkB might be able to tell you what difference it makes from an employer's point of view. (do you deal with contract placement's like this mark??))

was i helpful at all??

 

[Barbie]

Firstly you'll benefit from getting a good accountant. He/she will dramatically reduce your tax at the end of the tax year (april -april)

Set up a tax account and start to put a percentage of your wage into it each month so you don't get a shock when you get your bill.

Start keeping all reciepts, you'll even be able to claim on work clothes, lunches etc.

In Babs language young Sandi

I think I need to speak to my Dad

 

[summer06]

You’re your own boss, you can come and goes as you please.. lucky you..

I don’t know anything about tax etc tho.

What is your Business Barbie?

Fair Play..

 

[puppylover]

In Babs language young Sandi

I think I need to speak to my Dad

This is the bit you need to take notice of.....

Start keeping all reciepts, you'll even be able to claim on work clothes, lunches, Rose, Poppers etc

 

[Sirens]

It is thru a company called CCS based in Isle of Man, they said basically I just let them know where/when I am working and send thru any expenses (even travel to work) and then they invoice my client and pay me Does that sound right??

No no no no don't go through CCS they take a huge percentage off. I wouldn't take an accountant either. It is so easy to do it yourself, it will save yourself £££££'s

 

[Barbie]

What is your Business Barbie?

I just work for loads of different Marketing Agencies on a freelance basis, previously I've got paid thru the recruitment agency that has got me the job or the actual company but now it appears someone else invoices them for me

Oh my head hurts, I'm going to find a girlie thread

 

[Barbie]

No no no no don't go through CCS they take a huge percentage off. I wouldn't take an accountant either. It is so easy to do it yourself, it will save yourself £££££'s

Oh noooo, I've just gone thru CCS - that it who the Recruitment Agencies have all recommended

If they do a lot of the hard work for me tho maybe it's for the best

 

[Barbie]

Start keeping all reciepts, you'll even be able to claim on work clothes, lunches, Rose, Poppers etc

That's the only bit I need to know

 

[sandi]

This is the bit you need to take notice of.....

Start keeping all reciepts, you'll even be able to claim on work clothes, lunches, Rose, Poppers etc

Imagine the accountants face!

 

[Sirens]

Oh noooo, I've just gone thru CCS - that it who the Recruitment Agencies have all recommended

If they do a lot of the hard work for me tho maybe it's for the best

They do that with all recruitment agencies, the swines! I believe they get backhanders when they give new clients to them. I don't trust them PLus I am tight with my money, I'd rather spent it on myself then give them money for doing nothing
For me it worked out I would earn more going PAYE than SE. Even though they gave the impression being SE you would earn more money.

 

[Barbie]

They do that with all recruitment agencies, the swines! I believe they get backhanders when they give new clients to them. I don't trust them PLus I am tight with my money, I'd rather spent it on myself then give them money for doing nothing
For me it worked out I would earn more going PAYE than SE. Even though they gave the impression being SE you would earn more money.

Well they said I can either backdate from last Monday or start this coming Monday so I spose I can stay with them for a bit (til I understand it) and then I'm not obliged to stay with them

 

[grego]

For me it worked out I would earn more going PAYE than SE. Even though they gave the impression being SE you would earn more money.

this is what i was bangin on about before, or trying to. you can still find work through agencies but the way you are paid is different and like sirens says, you get more.