Advantages hours to suit
Its days like this that I really enjoy being self employed as the weather is naff and I can stay at home to catch up on paperwork, or whenever my daughter is off school ill, I can stay at home and look after her.
I don’t have to worry about having the day off or losing a days pay.
My title is Distribution Manager, sounds posh doesn’t it.
The work I do is contract deliveries to promote new products from companies or new businesses in my area.
The first thing you need to set up as self employed is a Book Keeping Ledger, these can be bought at Stationary shops like W.H Smith.
You enter two columns in the book. One for earnings and one for expences.
Every time you earn money put the amount in the earnings column and list all your earnings in the other column.
You will be surprised at all the things which come under expences, therefore reducing your Tax bill at the end of the year.
Here are some of mine as a guide.
Diesel for work purposes.
Repairs on the car, tyres, services, parts, labour costs ect.
Mobile phone as I use this for work only.
House phone 25% of my quarterly bill is used to get contracts.
Advertising, this is for Internet charges, newspaper and shops.
If you have to hire premises you can also claim for the rates and rent, fortunately I work from home so don’t have these expences.
You can also ring the Tax office in your area for advice on what other things you can claim in your expences if you are not sure.
You can also claim Working Families Tax Credit. I belive its about to change because of the budget, but this is also easy to claim for. You can ring your local D.s.s for a form to start up.
I claim every year but when I first started up I had to claim every six months. You have to send then a copy of your earnings and expences for the year, again they will estimate if you have only just started up.
There are other questions to answer, like how many children you have, people that live with you, how many hour do you work ect.
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