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TaxRobin, Tax Consultant
Category: Tax
Satisfied Customers: 17175
Experience:  International tax
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I'm looking to go to self employed and was wondering

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Hello, I'm looking to go to self employed and was wondering how to work out the tax, I will be working as a barber :)
Thanks, Jamie
HelloIf you’re self-employed, your business will have various running costs. You can deduct some of these costs to work out your taxable profit as long as they’re allowable expenses.You may have many of the following costs:stationery or phone bills uniforms stock or raw materialsinsurance or bank chargesheating, lighting, business ratesadvertisingAdd up all your allowable expenses for the tax year and put the total amount on your Self Assessment tax return. You should keep proof and records so you can show them to HM Revenue and Customs (HMRC) if asked.How much tax you pay will depend on the Income Tax band you’re in. You need to register if you didn’t send a tax return last year. You must register for Self Assessment as a sole trader if you do not work for someone.The numerous links in my response should assist you but let me know.Please advise if you need more information or rating in a positive way is acceptable.
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Customer: replied 2 years ago.

Thank you for your response, is it possible to pay accountant would you know rough cost?

I have seen were many have quoted £150 to £200 for a basic self-assessment service. You woudl need to request the fee when you check on the accountant.You can check here but it will not tell you the fees only that the accountant is registered.You are most welcome.My goal is to give you excellent service.Your positive rating is thanks enough