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Sam
Sam, Accountant
Category: Tax
Satisfied Customers: 13997
Experience:  26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
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I live in the UK. I work with a Company based in India and I

Customer Question

I live in the UK. I work with a Company based in India and I sell their products internationally for which I get paid a commission on the sales achieved.I YTravel extensively at my own expense. I am self employed. I will earn this tax year about $500,000 . Where do I declare my income and what rates apply?
Submitted: 1 year ago.
Category: Tax
Expert:  Sam replied 1 year ago.
Hi Thanks for your question you should declare your income to HMRC (In the UK) and should have registered as self employed within 3 months of this self employment commencing.From this income you can claim (as business expenses) all of you out of pocket expenses which would include the travel costs. After each 5 April HMRC then ask you to complete a self assessment tax return (to be with them no later than 31st Oct if you complete a paper tax return - or by 31st Jan if you register for free online services ) to declare all your income and claim expenses, and then any tax and National Insurance you owe you pay no later than 31st Jan Let me know if I can assist or expand further ThanksSam