Comments | alohura: Some things

alohura

Some things

Jul 27, 2010 09:55

The nice lady in Admissions at Kings College has come back to me at last. They are determined that the best course I could do in prep for appying for a place on the nutrition course next year is the Birkbeck Life Sciences foundation course. A staggering £1200, compared to my slimline version with the OU at £600ish. Damn. Will apply for 'financial ( Read more... )

Comments 15

voofy July 27 2010, 09:34:22 UTC

i have a suspicion that if we set up a company instead of cash in hand under the table, we might end up with a lot of paperwork and less money.

we should take advice

alohura July 27 2010, 09:37:57 UTC

Yes. Who from though? maybe someone will conveniently comment here with some advice... :)

djpsyche July 27 2010, 10:49:49 UTC

Maybe they will! :)

purplegril July 27 2010, 10:05:55 UTC

You don't need a company to do it above board, all you need to do is fill in a tax return putting in your money in and any expenses (travel, cleaning equipment if any). Not complicated.

A Ltd company could save you money on tax in theory, but I suspect the admin, though not massive, would be not worth it for the amont you're making from cleaning. This is assuming you're making a smallish amount of money, which I could be wrong about.

voofy July 27 2010, 10:14:28 UTC

yeah we're only making small amounts here - we're both working full time as well as this

could you explain more about tax forms?
how can we find out in advance how much tax they'll charge us? Because if it was a lot it would quickly cease being worth doing the work.

purplegril July 27 2010, 10:50:25 UTC

You would probably pay tax at 20%. Tax rates are as follows. This will be on the total of your income, so your full time pay will be taxed via PAYE at these rates and your self-employed income will sit on top of that. I hope that makes sense. These are 'bands' so it's not a flat rate of tax based on the amount you earn, but you pay that percentage of that on your earnings between those amounts, so everyone gets the tax-free amount, everyone then pays 20% on the next chunk, then everyone pays 40% on the next chunk etc ( ... )

djpsyche July 27 2010, 10:57:05 UTC

But if your total tax and Class 4 NI are below £1,000, you won't need to make payments on account -- just pay any tax you owe by 31 January of the following year.

Thread 10

tephramancy July 27 2010, 11:45:06 UTC

I could probably do with some of your cleaning services. Like twice a month or something? I'm off to Oxford today, talk to you about it when I get back?

alohura July 27 2010, 13:00:40 UTC

yup, lets chat when you're back :)