Loan - self assessment

[mattfx]

I have sympathy for those nurses in the NHS earning far less than us, but in the same way we have to protect ourselves by understanding the accountancy side of our businesses, surely they have to do the same, no? Anyone presenting me with a method of getting paid accompanied by a chart with "appetite for risk" would make my testes shiver; even if I knew nothing about the topic!

[northernladyuk]

Stupidly I signed up to umbrella company who offered loan as part payment when I temporarily became a contractor for 5 month before moving to paye. I have to complete my self assessment due to property and plan to ensure this additional income is entered in other payments not on p60 to ensure any tax due is paid.

Anything else I should be doing? Should I be phoning HMRC or just put everything down on the self assessment and pay tax due. Thanks in advance as have been sick with worry

You are making a hell of an assumption there. When the scheme providers ran out of rich fools they started to pretend to be umbrella companies and targeted people who didn't earn much but the agency didn't want to do payroll

There are a lot of supply teachers / nurses / care workers who are going to be caught up in this. And for them £500 is a lot of money that many don't have...

But in this case, the OP is looking to pay and is sick with worry. She seems to be in a diiferent situation from those who are fighting for economic survival, so it may not make sense for her to throw her lot in with them and continue to be stressed.

[reedas]

IQ Contracts self-assessment help

Hi

Unfortunately I am one those NHS workers who was sold IQ Contracts by a colleague and worked for them for 18 months back in 2012-2014.
I've now been sent self-assessment returns to do for these years and advised by HMRC to declare my earnings and mark paid tax as 'unknown'. I haven't yet done this (still waiting on bank statements for my earning figures) but just wanted to see what advice is out there. I'm not from the UK and have no idea how the tax system works. Should I seek help from Big Group/WTT before making any moves? This is all very stressful. Any help would be most appreciated.