Soldato
Hi all - a friend has asked me to go and work with him. He doesn't want to employ me, he'd rather I was self employed to reduce the amount of paperwork he'll need to do. I'm ok with this, but have a few questions:
If I'm self employed, do I still get a personal tax amount. My partner has kind of looked into it, and seems to think I don't, but I'm sure I must still get a personal allowance tax free?
Some of the online stuff seems to show that the tax I'd have to pay would be part of my profits? How would I work that out?
The scenario is my mate owns a mobile catering business. The idea short term is that I will be his sous chef to learn the ropes, and then eventually have my own team to go do our own functions (sourced from my mate as it's his business, and he wants to expand and stop turning away functions he can't currently cover due to lack of staff/teams).
How do I make sure I pay enough tax, and do I get a tax free allowance?
I'm sorry if the details are a little vague, just want to make sure I'm doing the right thing.
If I'm self employed, do I still get a personal tax amount. My partner has kind of looked into it, and seems to think I don't, but I'm sure I must still get a personal allowance tax free?
Some of the online stuff seems to show that the tax I'd have to pay would be part of my profits? How would I work that out?
The scenario is my mate owns a mobile catering business. The idea short term is that I will be his sous chef to learn the ropes, and then eventually have my own team to go do our own functions (sourced from my mate as it's his business, and he wants to expand and stop turning away functions he can't currently cover due to lack of staff/teams).
How do I make sure I pay enough tax, and do I get a tax free allowance?
I'm sorry if the details are a little vague, just want to make sure I'm doing the right thing.