[TomSE]

Hello there I have been window cleaning for just over a month now, need to set up to pay tax and NI, I have seen online that all I need to keep record of is weekly income, weekly expenses and keep any receipts for my expenses. Is it really that simple or are there other things I need to keep to prove my said earnings are what I put down?

I won't be earning enough this year to actually pay tax and don't want to pay for an accountant just yet especially if it is this simple when I'm in the early days. But obviously want to get it out of the way so I know where I stand.

Also could someone tell me a rough idea of how much NI I would have to pay.

Thank you.

Tom

[britishwill]

You will be self employed, so need to register for that otherwise you get a fine. Its about 150 quid I think.

Keep a record of what you have spent on equipment, fuel, etc.

If I earn £4000 I put £1000 away for the tax man. Its about 25% after all the expenses that u need to save. You also have about 8k allowance before u are taxed.

Check out this link, it will explain all: www.hmrc.gov.uk/nic

Hope this helps and best of luck with the business

[combat1]

Pay 50 pounds, set yourself up with George computer software and at the year end one button will print you a finance report with all the figures you need for self assessment.
N.I. is about 10 pounds per month.

[SB Cleaning]

Pay 50 pounds, set yourself up with George computer software and at the year end one button will print you a finance report with all the figures you need for self assessment.
N.I. is about 10 pounds per month.

yep best 50 quid you will ever spend.

[TomSE]

Thank you very much will do this over the weekend much appreciated

[bumper]

if your earning 4.grand a year you pay no tax or National Insurance,but you have to inform them about National Insurance so you get a exemption certificate.
 

[Ian101]

you mean i have to pay tax ??

whys thats as dont recall the taxman working alongside me in the hissing down rain so far this month


 

[pncleaning]

you mean i have to pay tax ??

whys thats as dont recall the taxman working alongside me in the hissing down rain so far this month

 
 

tottally agree with you