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roysten
Stranger
Joined: 19 Feb 2006
Posts: 7
Cash Points ££ 219.40
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 Posted: Sat May 13, 2006 12:36 am Post subject: Working on the side and full time - tax query |
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I've been a Kleeneze distributor for a few months now and it's going well - but I'm slightly concerned about the tax situation.
I have a full-time job too and pay tax at the basic rate through PAYE, how do I go about declaring my Kleenze income and how is this likely to be taxed?
is there a minimum threshold that the Inland revenue ignores i.e. for self employment ?
Thanks for any help ! |
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Nadeem
Veteran Investor
Joined: 11 Jul 2004
Posts: 639
Cash Points ££ 13955.74
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| Posted: Sat May 13, 2006 12:46 am Post subject: |
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The inland revenue rules are that you need to register within 90days of becoming self employed. Else they may fine you upto £100.
Their helpline number is 08459 15 45 15.
They will send you a self assessment return which contains a section for self employed income |
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Deborah
Veteran Investor
Joined: 12 Jul 2004
Posts: 418
Cash Points ££ 1730.36
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| Posted: Tue May 16, 2006 1:20 am Post subject: Re: Working on the side and full time - tax query |
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| roysten wrote: | I've been a Kleeneze distributor for a few months now and it's going well - but I'm slightly concerned about the tax situation.
I have a full-time job too and pay tax at the basic rate through PAYE, how do I go about declaring my Kleenze income and how is this likely to be taxed?
is there a minimum threshold that the Inland revenue ignores i.e. for self employment ?
Thanks for any help ! |
Do as Nadeem suggests and register with the Inland revenue for self assessment. You will be taxed at basic rate or 22% on the PROFIT, unless your a higher rate tax payer. |
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newsaver
Newbie
Joined: 28 Feb 2005
Posts: 12
Cash Points ££ 202.10
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| Posted: Fri May 19, 2006 5:03 am Post subject: |
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| Crikey ! I think I need to register ! I always thought you had to earn more than £4,500 from working at home before you needed to tell the tax man ! |
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Sarah
Money Manager
Joined: 16 Jul 2004
Posts: 831
Cash Points ££ 12024.38
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| Posted: Thu May 25, 2006 12:10 am Post subject: |
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| if you have any queries you can give them a call or go down to your local tax office and I am sure they will clear things up about what you need to do. |
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Phillipa
Veteran Investor
Joined: 05 Feb 2005
Posts: 419
Cash Points ££ 3383.78
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| Posted: Sun Jun 04, 2006 2:21 am Post subject: |
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