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So I've finally received my private hire badge, I intend to work part time evenings and weekends to start with to see how i like it and if it all works out then I'll make the move to full-time. As I already work fulltime (in another job, run of the mill 9-5 yawn), do I need to make N.I. contributions and how do I sort out my tax? Do I need to get an accountant straight away?
Cheers for all replies.

Do I need to get an accountant straight away?
Cheers for all replies.

thanks for the replies, that was fast! I've never had to self assess for tax before, could you point me in the right direction as to how to go about it pls. Cheers again, this is a top forum!

thanks for the reply Sussex, but does that system not leave it open to abuse? Apart from ethics, what would stop somebody falsifying income details for their tax returns?

Apart from ethics, what would stop somebody falsifying income details for their tax returns?

guerilladriver wrote:

Apart from ethics, what would stop somebody falsifying income details for their tax returns?

The thought of being banged up is a pretty good deterant. :roll:

It has never stopped you. :cry:

And don't forget every gallon of fuel :wink:

MR T wrote:

And don't forget every gallon of fuel :wink:

Not to bad on that red stuff. :wink:

Author:	guerilladriver [ Wed Jul 25, 2007 4:39 pm ]
Post subject:	Few tax questions
So I've finally received my private hire badge, I intend to work part time evenings and weekends to start with to see how i like it and if it all works out then I'll make the move to full-time. As I already work fulltime (in another job, run of the mill 9-5 yawn), do I need to make N.I. contributions and how do I sort out my tax? Do I need to get an accountant straight away? Cheers for all replies.

Author:	gusmac [ Wed Jul 25, 2007 4:50 pm ]
Post subject:	Re: Few tax questions
guerilladriver wrote: So I've finally received my private hire badge, I intend to work part time evenings and weekends to start with to see how i like it and if it all works out then I'll make the move to full-time. As I already work fulltime (in another job, run of the mill 9-5 yawn), do I need to make N.I. contributions and how do I sort out my tax? Do I need to get an accountant straight away? Cheers for all replies. You will need to inform the tax office that you are self employed. do this quickly, as i believe there is a penalty for not doing so within a set period (not sure how long) I don't think you need to pay class 2 NICs if you are already paying class 1 through your full time job.

Author:	Sussex [ Wed Jul 25, 2007 5:18 pm ]
Post subject:	Re: Few tax questions
guerilladriver wrote: Do I need to get an accountant straight away? Cheers for all replies. If you are only going to work part-time then I would self assess.

Author:	guerilladriver [ Wed Jul 25, 2007 6:25 pm ]
Post subject:
thanks for the replies, that was fast! I've never had to self assess for tax before, could you point me in the right direction as to how to go about it pls. Cheers again, this is a top forum!

Author:	Sussex [ Wed Jul 25, 2007 10:57 pm ]
Post subject:
guerilladriver wrote: thanks for the replies, that was fast! I've never had to self assess for tax before, could you point me in the right direction as to how to go about it pls. Cheers again, this is a top forum! When you get your self-assessment form just fill in the boxes, or do it on-line. Put down what you have taken, including tips, put down what your expenses are, including receipts, take one from another and that's your net income. Send your form in, or asess on-line, before September, and those good folks at the inland revenue will work it all out for you and send you a nice little bill.

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Author:	guerilladriver [ Thu Jul 26, 2007 10:10 am ]
Post subject:
thanks for the reply Sussex, but does that system not leave it open to abuse? Apart from ethics, what would stop somebody falsifying income details for their tax returns?

Author:	gusmac [ Thu Jul 26, 2007 10:36 am ]
Post subject:
guerilladriver wrote: thanks for the reply Sussex, but does that system not leave it open to abuse? Apart from ethics, what would stop somebody falsifying income details for their tax returns? The revenue have their own ways of catching people who cheat. Its probably fair to say nobody is 100% honest about their tax return. The less honest you are, the more likely you will be caught.

Author:	Barnsley [ Thu Jul 26, 2007 10:36 am ]
Post subject:
Nothing untill the nice computer at the tax office picks your name out and decides to send the tax inspectors round. Then they will investigate you and you could have serious problems.

Author:	Sussex [ Thu Jul 26, 2007 6:29 pm ]
Post subject:
guerilladriver wrote: Apart from ethics, what would stop somebody falsifying income details for their tax returns? The thought of being banged up is a pretty good deterant.

Author:	MR T [ Thu Jul 26, 2007 6:31 pm ]
Post subject:
Sussex wrote: guerilladriver wrote: Apart from ethics, what would stop somebody falsifying income details for their tax returns? The thought of being banged up is a pretty good deterant. It has never stopped you.

Author:	Sussex [ Thu Jul 26, 2007 6:37 pm ]
Post subject:
MR T wrote: It has never stopped you. I'll have you know that I pay tax. Paid 17.5% on a mars bar the other day.

Author:	MR T [ Thu Jul 26, 2007 6:41 pm ]
Post subject:
And don't forget every gallon of fuel

Author:	Sussex [ Thu Jul 26, 2007 6:51 pm ]
Post subject:
MR T wrote: And don't forget every gallon of fuel Not to bad on that red stuff.

Author:	gusmac [ Thu Jul 26, 2007 8:10 pm ]
Post subject:
Sussex wrote: MR T wrote: And don't forget every gallon of fuel Not to bad on that red stuff. veggie oil is cheap too

Author:	MR T [ Thu Jul 26, 2007 9:28 pm ]
Post subject:
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