Wednesday, 11 June 2008

Registering with the Tax Office


I have just phone my tax office to find out about registering as self employeed.

They advised that I should call 0845 9154515 to register.

Apparently you must register within 3 months of being self employeed.

As I pay national insurance through my main employer I have to call this number and ask for a National Insurance exempt form.

The very helpful lady I spoke to said to keep all the recepits and details of earnings just as we discussed at the last training weekend. I would be sent a Self Assessment Tax Form in April and to enter the details onto this. She did say that training was not claimable though.

I have also spoken to the Self Assessment help line 0845 9000444. They said that we cannot claim for training that has been undertaken to become a Yoga Teacher but we can claim for training to assist with maintaining our knowledge whilst doing the work.

Also, the very helpful man said that you only pay tax on the profit made, so if for example in the first year you make a loss of £1,000 then you can either off set this against any tax you are paying if you are also earning in an employed job or carry this loss over to the next year. So if in the second year you made a proft of £1,000 you would not pay any tax.

We should also be able to claim for clothing.

Hope this helps.

Best wishes

Michelle Mead

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