Phew - Just done my tax return !

[Dangerous Dave]

Yes
&
No

How will this help me then? I've only just registered as self employed? I'm full time paid as well.

You will need to fill out a tax form, as you have started in this tax year you will have to the 31st of January 2009 if you sign up to do it online. As you are both self employed and paid through PAYE you will fill out two sections of the tax form and you will input the tax you have paid via PAYE already from the P60 you will get at the end of this taxyear from your employer, so you really only pay additional tax on the income you have earned from your filming.

 

[carpmaster]

About to pay my tax online tonight! Accountant has had a family bereavement and can't get it all completed and handed in on time. He's told me roughly what to pay, so I'll pay it tonight.

 

[Basher]

are you self employed?
are you vat registered?

If no to both, ignore it, your employer will have it sorted for you.

Unless you earn over 100k.

 

[carpmaster]

Just paid it. Was nice and easy really. Was a fair bit more than I was expecting to pay, but the figure was an estimate from my accountant so when he knows the exact figure he should be able to sort it out & hopefully it won't be as much!

 

[Jambo]

Did my 3 monthly VAT return last week, not impressed, but then I shouldn't be unhappy, I make 5.5% extra a year thanks to the flat rate scheme

I finished ours today. I shouldn't leave a full quarter of accounts to the last minute. Man, it was nasty but feels good to have it done.

Tax return done ages ago.

 

[LordSplodge]

I'm a freelance cinematographer as well as working full time as IT Admin. There is only me so no PAYE and not VAT registered either

Do you do your freelancing outside of normal working hours then? Evenings and Weekends?

 

[Dangerous]

Do you do your freelancing outside of normal working hours then? Evenings and Weekends?

Yeah

 

[schnipps]

Pay £500 a year for a limited company returns through a local accountant, nothing to pay until March. The difference from starting the Ltd to just being a sole trader has saved thousands in tax.

 

[Morba]

No its not. Im employed PAYE and ALWAYS have to do a tax return because im over the threshold

I was earning over the threshold as an employee and never had to do a self assesment form..

 

[Morba]

Im considering SJD.

How are they with IR35? Any tips to avoid getting trapped?

IR35 is about your contract rather than your accountant, get your contract looked over by an IR35 specialist, its worth the money :]
If you are caught by IR35 you might as well look at using an umbrella company rather than your own ltd co.

As for SJD, i have found them to be excellent, very prompt and have a large team of people to deal with everything. I have 4 or 5 different people that deal with my stuff (different things).
They also do a registered address service, so my companys post goes to their office, they open it and action if they can or forward on if not.

 

[spoonz]

IR35 is about your contract rather than your accountant, get your contract looked over by an IR35 specialist, its worth the money :]
If you are caught by IR35 you might as well look at using an umbrella company rather than your own ltd co.

As for SJD, i have found them to be excellent, very prompt and have a large team of people to deal with everything. I have 4 or 5 different people that deal with my stuff (different things).
They also do a registered address service, so my companys post goes to their office, they open it and action if they can or forward on if not.

Yeah, I hear PCG supply IR35 compliant contract templates to work from.