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Full Time Job and Secondary Income Questions
Hi!
Currently I work a 9-5 job but want to do freelance in my own time which I shall be starting next month but I'm confused as to what I need to do to in order to comply with all the tax and income rules and regulations.
What do I need to do in order to register and make sure all is above board for a second income? I can only imagine it to be an admin nightmare and I hate admin!
I will be receiving all secondary income as an automatic payment every month which should make it easier to track for tax and everything. I will certainly be making my way into the higher rate tax band at least for a short time (6-12 months potentially) while I have a full time job and freelance income but at some point I hope to make the transition to freelancing full-time. Is there anything I need to consider for that situation?
Finally, what can I do to make the whole process as easy as possible? Obviously getting an accountant will help me with that but that almost certainly won't be feasible, at least initially.
Thanks for any help!
Currently I work a 9-5 job but want to do freelance in my own time which I shall be starting next month but I'm confused as to what I need to do to in order to comply with all the tax and income rules and regulations.
What do I need to do in order to register and make sure all is above board for a second income? I can only imagine it to be an admin nightmare and I hate admin!
I will be receiving all secondary income as an automatic payment every month which should make it easier to track for tax and everything. I will certainly be making my way into the higher rate tax band at least for a short time (6-12 months potentially) while I have a full time job and freelance income but at some point I hope to make the transition to freelancing full-time. Is there anything I need to consider for that situation?
Finally, what can I do to make the whole process as easy as possible? Obviously getting an accountant will help me with that but that almost certainly won't be feasible, at least initially.
Thanks for any help!
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rickypounting
Messages count : 13Likes count : 0Registration : 2 December 2011
One can go for and work as a freelancer when ever he feels like. Working as a freelancer doesn't at require one to remain restricted and work in the office timings of 9-5.....tkenny, post: 18974 a écrit : Hi!
Currently I work a 9-5 job but want to do freelance in my own time which I shall be starting next month but I'm confused as to what I need to do to in order to comply with all the tax and income rules and regulations.
What do I need to do in order to register and make sure all is above board for a second income? I can only imagine it to be an admin nightmare and I hate admin!
I will be receiving all secondary income as an automatic payment every month which should make it easier to track for tax and everything. I will certainly be making my way into the higher rate tax band at least for a short time (6-12 months potentially) while I have a full time job and freelance income but at some point I hope to make the transition to freelancing full-time. Is there anything I need to consider for that situation?
Finally, what can I do to make the whole process as easy as possible? Obviously getting an accountant will help me with that but that almost certainly won't be feasible, at least initially.
Thanks for any help!