[JSMC]

ok here goes.

i only want to do WC at weekends helping her dad but also getting some business for myself with all my own kit. i am not vat registered. I currently work fullt time and pay tax.

I want to sign write my van with a name (undecided yet). as i am not trading as a company is this still ok to do? I take it i just  speka to an accountant each yea rand pay my tax etc?

also can i claim anyhting back on my first year a si have paid out cash for van and equipment.

[Rob_Mac]

You pay tax on the first year in year 2 so save your receipts. VAT registration - you need to be earning 64000 before you worry about this.

Put whatever name you like on your van - but not the Ionics logo and as long as the company name you want to use is not registered at companies house

Rob

[JSMC]

so basically think of a name then check companies house to see if anyone else has it. each yea rjust keep a note of all receipts etc and give to accountant.

[windowwashers]

ok here goes.

i only want to do WC at weekends helping her dad but also getting some business for myself with all my own kit. i am not vat registered. I currently work fullt time and pay tax.

I want to sign write my van with a name (undecided yet). as i am not trading as a company is this still ok to do? I take it i just  speka to an accountant each yea rand pay my tax etc?

also can i claim anyhting back on my first year a si have paid out cash for van and equipment.

you dont have to register to be self employed for 3 months (I think) check inland revenue site be be sure.

yes you can claim any expensive but they will be a % for van etc, and others can be claimed 100% against tax, your best bet is ask an accountant. (and thats the best advice rather than listen to others opinions on here I am not an accountant, and unless someone is thety could well be wrong.

Ian

[Rob_Mac]

If your going to be using something specific like JSMC window Cleaning I don't think you will have much to worry about as far as the name.

You need to register self employed within 3 months at the inland revenue and you got it with the receipts

Good luck

Rob

[JSMC]

how doe sit work with me being in full time employment still?

[Rob_Mac]

As Windowwashers has said the intricasies will be better explained by someone like an accountant. Get yourself off to your local business link - look in the yellow Pages for their address and book an appointment and then ask them all the detail.

Rob

[frames to panes]

And tell the taxman you have two jobs then apply for a national insurance exemption certificate i believe, as you will be running a low income small business for a while. In theory you could get taxed on any income from it but your start up costs would probably avoid it. Keep all receipts for the business - fuel, clothing and equipment. You might find the tax man adds the income from both jobs together and adjusts your tax code to suit. Best to search their web site or even phone them.

[Paul Heath]

as i have just found out vat is worked out on turnover and not earnings.......as soon as you reach £64000 turnover over a rolling 12 month period you then have to register for vat.....wat joy!!!

[ian m]

JSMC


The tax adviser  told me to register with them as soon as I first offered my services,not when I started window cleaning this made sense as I could then claim for start up costs.


If I didn't register then I could be fined £100

At the time was was in parttime employment so had to register as part time self employed, you will have to do the same

there is a separate page on the self certification tax form for any earnings raised from other employment, this would be the amount you get from your job and is recorded on the p60 form you get off your employer once a year.

hope this helps

Ian

[williamx]

jsmc

You need to register with the tax man, that you are doing some self-employment work.

You can claim the same things that all self-employed claim.

Because you are already in employment you will have used you personel tax allowances in this job, so any self-employment profits will be taxed at the going rate, you will also have to pay class 4 national insurance on all profits as well, which is 8% on all profits up to £34840 then 1% on amounts over £34840 at the moment.