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Forgot to registor as seff-employed...
Hi
Ever since July 2006 when I left my full-time employment, I have been studying at home with the goal to become a freelance web-designer. I have been living with my girlfriend all this time and have not claimed any benefits at all. Things are picking up now, but in the tax year ending October 2006 I only worked on 5 jobs which totaled about £1400. My outgoings are way higher than my income as I needed to buy a PC and software and train myself.
Now the problem: At no point in time did I register myself as self employed and I have not paid TAX, VAT or NI. Is it inevitable that I will be fined, even though my income is below peanuts? Does anyone have any advise on what should do?
Thanks in advance,
J
Ever since July 2006 when I left my full-time employment, I have been studying at home with the goal to become a freelance web-designer. I have been living with my girlfriend all this time and have not claimed any benefits at all. Things are picking up now, but in the tax year ending October 2006 I only worked on 5 jobs which totaled about £1400. My outgoings are way higher than my income as I needed to buy a PC and software and train myself.
Now the problem: At no point in time did I register myself as self employed and I have not paid TAX, VAT or NI. Is it inevitable that I will be fined, even though my income is below peanuts? Does anyone have any advise on what should do?
Thanks in advance,
J
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playboy_bunnie
Messages count : 33Likes count : 0Registration : 23 December 2007Register asap.
I work for HM Revenue and Customs, and although I am not a grass, I have worked for the Self-Employed Dept and also Tax Evasion (among other areas).
Best thing to do is just come clean and register, yes you will get fined, but any tax/NI owed would be dependant on your Gross Income, Net Income and Expenses (this is called a 3 line account).
Its better than them catching you.. as they dont see ignorance as an excuse.
I hope that helps, and good luck!