Originally posted by mudskipper
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Reply to: Doing odd jobs?
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Previously on "Doing odd jobs?"
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Sorry all, it was my first posting and the first series of answers were very dismissive, but I got help in the end from sympathetic and helpful posters. Thank you, I am pleased with the guidance.
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Originally posted by Boo View PostIt's a shame that this has come to seem the most reasonable eventual reaction of anybody asking a question on these forums.
Boo
2/10 must try harder
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Originally posted by Boo View PostIt's a shame that this has come to seem the most reasonable eventual reaction of anybody asking a question on these forums.
Boo
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Originally posted by Sterling View Post
Perhaps there could be an issue with my SIC code being restrictive.
Worth checking with your accountant.
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Originally posted by mudskipper View PostYes, you can use your business for whatever you like.
When you submit your annual return, you can include multiple SIC codes.
Where it gets more complicates is with flat rate vat, so if yourCo is on FRVS, talk to your accountant.
To put matters in perspective (and moving beyond my examples which were just there to explore possibilities), my elderly mother lives in a retirement apartment which is owned by a trust rather than her. The trust will pay for maintenance work on the fabric of the flat. I couldn't work cash in hand for the trust given that some business formality is required. The flat is cluttered with antique furniture and many items mounted on the walls and would not be an easy decorating job. If I quote the trust for the work and do the work myself that is less stressful for my mother, the trust has its apartment made good, and I get paid for my work. Whereas other posters would do the work cash-in-hand to circumvent tax, I would achieve much the same end legally by flushing the earnings through my pension.
Perhaps there could be an issue with my SIC code being restrictive.
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Originally posted by Lance View PostYou can choose to do odd jobs as self-employed or through your LTD.
I’d do it personally and trouser the cash. You could put it on your self assessment if you want to be honest.
Doing it via LTD would just be a PIA and would add VAT onto your price.
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Originally posted by Sterling View PostThank you for your response. My SIC code is 70221, Financial Management.
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You can choose to do odd jobs as self-employed or through your LTD.
I’d do it personally and trouser the cash. You could put it on your self assessment if you want to be honest.
Doing it via LTD would just be a PIA
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Only worth putting through Ltd if the job incurs expenses or capital outlay for tools etc that can be re-imbursed or offset against tax?
Otherwise do privately and if your conscience dictates, declare cash in hand jobs on self assessment, like all those landlords, car booters, and ebay sellers 'do'.
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Originally posted by mudskipper View PostYes, you can use your business for whatever you like.
When you submit your annual return, you can include multiple SIC codes.
Where it gets more complicates is with flat rate vat, so if yourCo is on FRVS, talk to your accountant.Last edited by northernladyuk; 12 October 2017, 06:40.
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Yes, you can use your business for whatever you like.
When you submit your annual return, you can include multiple SIC codes.
Where it gets more complicates is with flat rate vat, so if yourCo is on FRVS, talk to your accountant.
Leave a comment:
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