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Sam
Sam, Accountant
Category: Tax
Satisfied Customers: 13941
Experience:  26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
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I started working as self employed at the end of February

Resolved Question:

Hi I started working as self employed at the end of February 2015 till the 9th of March 2015 and I need to know how much tax I have to pay. the most I was earning was between £120 to £285 per week. I'v never been self employed before and would be great full for some help.
Kind Regards,
Adrian Fernando
Submitted: 2 years ago.
Category: Tax
Expert:  Sam replied 2 years ago.
Hi
Thanks for your question - I am Sam and I am one of the UK tax experts
Could you advise
1. Whether you have registered as self employed with HMRC
2. How much you actually earned from end Feb 2015 to 9th march 2015
3, Whether you incurred and expenses to earn this money
4. What other income you had from 06/04/2014 to end Feb 2015 and from 10th March 2015 to 05/04/2015
I can then advise how you can take this forward
Thanks
Sam
Customer: replied 2 years ago.

Yes I registered as self employed with HMRC.

Total I earned from end of Feb to the 9th March 2015 = £1526.25

Total expenses incurred = £145.09

Other income was working full time from 06/04/2014 with Caesars Entertainment UK until I was made redundant at the end of August 2014.

Job Seekers allowance till middle February Then subcontracted to TSS Security from the end of February till 09/05/2015.

Expert:  Sam replied 2 years ago.
Hi
Thanks for your response
That's great that you have register with HMRC regarding your self employment
You now are required to complete a self assessment tax return for the tax year 2014/2015
You can choose to either
1) Telephone HMRC as soon after 8am or as close to 8pm with a good chance of getting through straight away to request a paper tax return OR
2) Register for HMRC free online services for self employment - as an individual - link here if you wish to register online
https://online.hmrc.gov.uk/registration
This will then involve a activation code to be issued to you, which you should use straight away.
Whether you complete the paper OR online return - you will need to declare ALL income for the tax year.
Employment Page for details of employment from 06/04/2014 to Aug 2014 (along with any redundancy or lump sum termination pay) you should have a P45 with this information on
Self Employment Page with income and expenses
And also declare the Job seekers paid from Med Fen 2015 to 05/04/2015 (should have been provided with a P60u - or will be between now and 19th May)
If you use the online return it calculates your tax and any National Insurance (Class 4) for you, taking into account tax paid through employment but do let me know if I can be of any furtehr assistance - or you wish me to advise furtehr on any other aspect of your situation
Thanks
Sam
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