UK SELF EMPLOYED HELP!
UK SELF EMPLOYED HELP!
Out of context: Reply #8
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- sichi0
you don't pay your Self-Assesment until the year after. So this year (before Jan 31st) I paid income tax for the tax year 2005-2006 (ending April 06).
So anything you have earnt after April 06 until April 07 you won't have to pay tax on until September 2007 (deadline Jan 08).
You do pay National Insurance contributions throughtout the year, but these are categorised at a standard self-employment level and aren't affected by the amount of money you earn.
Getting an accountant is a very good idea, saves a lot of stress when it comes to filing papers with the tax man.