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lisa123

timesheets for drawings/wages
« on: September 01, 2005, 07:36:41 pm »
hi,
i am just trying to get my filing and paperwork in order.
my biz partner and i have done our 1st clean, and wandered, what happened with timesheets and payment.

I have printed out weekly timesheets, to state hours worked on site (not inc travel time), what happens to income tax and NI?
i know we musy pay NI conts £2.10 per week each once registered, and have allowed for this on business expenses.

doesn't income tax work the same way??
easy explainations please :) i know it is a large area and very complex.

thanks :)

Jan K

  • Posts: 665
Re: timesheets for drawings/wages
« Reply #1 on: September 02, 2005, 05:27:31 pm »
Hi Lisa!

Please don't take this the wrong way, but surely these are the sort of questions that you should have answers too BEFORE you started up your business.

I spent 8 months researching legal and financial information, my competitors, marketing etc etc and attending courses and getting a (35 page) business plan together before I launched my business and took employed staff. Prior to that I spent time working as a cleaner myself to gain experience with my own customers before taking on anyone else.

I don't wish to appear critical but you seem to be asking an awful lot of questions (which granted is what this forum is partly here for) but with reference to things you perhaps should have already got straight!!

I am just concerned that you may be trying to run before you walk!

Jan
anyone with facebook can add me at this link ...  jan 'minkeedj' kindon  .... if you can be bothered lol