Hi,
Im thinking about getting insurance to cover me in case I get investigated by HMRC (I dont expect to, but I like peace of mind!). Is the costs involved in being investigated accountancy costs? In other words, if I dont have or need an accountant whilst being investigated, then the cost of the investigation is minimal - so is it worth me getting this insurance? Im only going to be doing a few jobs this year with no (foreseen) expenses other than petrol, so my account are going to be simple. Or does the HMRC slap some arbitrary fee on you if they do investigate? Thanks.
Ive become recently self employed. Do freelancers call themselves a company name (eg: Fantasy Designs)? Or do you invoice clients as your personal name (eg Joe Bloggs)? At the moment I just invoice people as myself. Do I need to register a name like a limited company would have to do?
Hi. Ive recently become self employed and want to open a bank account to keep my finances organised (at the moment, invoices are paid to my current account). Can I open a personal account? If so, any suggestions/recommendations?
thanks
hi festsoft, yes, exactly what I was thinking. Am I self employed if I just do one job? If work starts picking up, am I self employed? Probably yes, and Ive now registered as self employed (aparently the fine is being posted to me and I need to appeal it) - but does that mean I was self employed in the first place? Im going to see how the appeal goes. Fingers crossed. I wander how lenient HMRC actually is? I assume theyre there to screw the little man, but maybe they do have a heart and know that people are likely to get it wrong and make mistakes in their fisrt few weeks of going self employed. We'll see what happens. Do you know if youre going to be fined?
Hi,
Ive been freelancing for about 7 months. I have a full time job, but a friend asked my to do a website for them. Because it was just one job, I thought all I would have to do is fill in a self assessment form at the end of the tax year. Since that first job, a few other jobs have come along and now Im regularly doing freelance work in the evenings and weekends. Ive been looking into this more now because of this, and it looks like I should have registered as being self employed right at the beginning. I know there is a £100 fine if you dont register within 3 months of going self employed, but Im completly new at this and it was a genuine mistake (although Im sure the tax man will say ignorance is not an excuse).
Im going to have to register as self employed, but has anyone else slipped up on this or have any advice? I dont want to be fined £100 for being naieve.
Ive also been looking at the articles on this site about insurance which has been a real eye-opener!
Thanks.
