Help with Tax Return

[Fred Bloggs]

For this kind of income I would just register as self-employed and submit an income statement based on the payments you received. It is a lot simpler than a Ltd company.

https://www.gov.uk/set-up-self-employed

https://www.gov.uk/self-employed-rec...ecords-to-keep

Exactly so. OP says that he/she has already registered as self employed with HMRC. If they make a start this week, plenty of time to DIY a tax return with both employed and self employed income. Just get all the numbers together before starting and take your time filling it in. Can always do part of it, save it and finish it later as well.

[BlasterBates]

For this kind of income I would just register as self-employed and submit an income statement based on the payments you received. It is a lot simpler than a Ltd company.

https://www.gov.uk/set-up-self-employed

https://www.gov.uk/self-employed-rec...ecords-to-keep

[northernladuk]

Yeah there is no payslip money just gets paid into my account im not obligated to do jobs and they are not obligated to give me any. Its like a zero hours contract.

This is my first year doing a tax return for this job although I have already registered for self assessment due to having a property overseas which I make no profit on.

Get an accountant to do it and stick to them like glue so you can learn what you should be doing and if you feel confident do it yourself next year.

You do have until the 31st but if you screw it up and have to re-submit or anything you could be late and get fine plus interest plus the attention of HMRC which is a very bad idea.

Get an accountant in and do it properly and quickly.

[patnut]

Yeah there is no payslip money just gets paid into my account im not obligated to do jobs and they are not obligated to give me any. Its like a zero hours contract.

This is my first year doing a tax return for this job although I have already registered for self assessment due to having a property overseas which I make no profit on.

[cojak]

Does any paperwork accompany the money you are paid?
could they be deducting any tax already?
I know a guy who does this, he’s not a contractor, he’s just got a zero hour employment contract? And he gets payslips.

It sounds like it's just petty cash from the company using direct transfer into his bank account - I'll bet there's nothing on paper and HMRC will only see the money coming from the sender's account.

OP - tally it all up and put the amount into the section where it asks you to put non-PAYE money.

[Lance]

Thanks for the replies let me add a bit more info which may help. The contracting work I do is for a limited company I'm employed by this company as an independent contractor.

I was under the impression I had up until the 31st of January to complete? Is this wrong?

I don't get any invoices the money just gets paid into my account. I keep track of the jobs I do on my phone. I pickup and deliver cars.

Does any paperwork accompany the money you are paid?
could they be deducting any tax already?
I know a guy who does this, he’s not a contractor, he’s just got a zero hour employment contract? And he gets payslips.

[Fred Bloggs]

Thanks for the replies let me add a bit more info which may help. The contracting work I do is for a limited company I'm employed by this company as an independent contractor.

I was under the impression I had up until the 31st of January to complete? Is this wrong?

I don't get any invoices the money just gets paid into my account. I keep track of the jobs I do on my phone. I pickup and deliver cars.

Cojak's right and this year you need to get your skates on and do the self assessment. I would start ASAP rather than leave it. If you're already registered as self employed for the driving work you will complete the employment pages for your day job and the self employment pages for the driving jobs. You can use paid for software or use HMRC's on line self assessment pages. You don't have to complete the submission all in one session, you can get part way and save it to go back to later.

[cojak]

You’re right, it’s the 31st January.

But if you go through the self assessment pages, there’s a lot of information to help you get your tax right.

[patnut]

Thanks for the replies let me add a bit more info which may help. The contracting work I do is for a limited company I'm employed by this company as an independent contractor.

I was under the impression I had up until the 31st of January to complete? Is this wrong?

I don't get any invoices the money just gets paid into my account. I keep track of the jobs I do on my phone. I pickup and deliver cars.

[jamesbrown]

If your clients are happy to engage you on a self-employed basis and you are happy to take the risk of being personally liable for anything that goes wrong, then I wouldn’t complicate things with a Ltd company for that level of income because it won’t be worth it. An umbrella company is not really something you use by choice. It has the advantage of being minimal hassle, but the downside of adding another intermediary to the supply chain that can fail and take your money with it. Self-employed is a good route for a small amount of income on the side, so stick with that IMHO.

[cojak]

I would contact a local accountant who would look at your work, invoices and bank statements and explain these things to you. And I would advise you to take notes.

There’s too much information needed for us to be much help I’m afraid.

(If you’re hoping to complete this before the 31st December, you’re too late and will have to accept the fine and learn your lesson for next year.)

[patnut]

I'm employed full time but also work as an independent contractor during my spare time. I make on average £200 but can range between 0 to 500 a week from the contracting work and understand that I would need to complete a self assessment this year.

I have already registered as self employed but i'm confused about Limited Company umbrella company etc and if this is worth looking at.

Both my salaries combined fall below the 50k mark.

Any help would be appreciated thanks.

Jordan