MegaSack DRAW - This year's winner is user - rgwb
We will be in touch
What is the deal here?
Just done some freelance work to supplement my main job. The amount from the freelance work doesn't move me up a tax bracket - what is the procedure for paying the tax on this?
contact your tax office. They'll get you to do a tax return at year end and prompt you for any extra that wasn't collected through PAYE.
Fill in a tax return..... i think...
wwaswas - Member
contact your tax office. They'll get you to do a tax return at year end and prompt you for any extra that wasn't collected through PAYE.
Cheers - phone call or letter best?
<firemen to the forum please>
ducks.
Not really worth the extra hassle, unless it happens on a regular basis. Supplement your main job? I thought you were one of the rich boys if the forum
How are you being paid?
CharlieMungus - Member
Not really worth the extra hassle, unless it happens on a regular basis. Supplement your main job? I thought you were one of the rich boys if the forum
Are you suggesting i avoid tax? I'm not an MP!
I earn low £30k's (before tax), does that make me rich?
mastiles_fanylion - Member
How are you being paid?
Cheque.
No, I was suggesting that you don't bother doing the extra bits. Low 30s is above the national average, probably below the STW average, but you certainly deserve more!
CharlieMungus - Member
No, I was suggesting that you don't bother doing the extra bits. Low 30s is above the national average, probably below the STW average, [b]but you certainly deserve more[/b]!
How kind. Shall i email you my paypal details - use the gift option, of course.
How is your institution riding out the cut in HEFCE funding?
phone them they're pretty good. depending on how much it is you might be abel to get your tax code changed to collect it through PAYE but then your employer might realise you have other work (not sure if that's a problem or not).
I'd save at least 30% of what you earn (or more if you;re higher rate) and if it's a reasonable sum contact an accountant - you can offset expenses.
as said contact you tax office and tell them you are becoming self employed.
you may find it benificial to set up a business and have all freelance payments made to the business. that way it's easy to bill yourself (the business) for heating, electricity etc at home (if thats where you do the work).
The purse strings were tightened long before the Browne report and the CSR in preparation for cuts. The VC et al reckon we'll be fine due to buoyant recruitment and a decent (and improving) reputation. It all depends on the economy and what level fees are set at.
Interestingly, despite all the talk from Russell Group institutions about wanting higher fees, those with poorly rated teaching or low contact hours (characteristic of many RG unis) could lose out. Staff will have to teach more, and therefore do less research. Whereas the rest of us can carry on a normal with our huge workloads, and potentially see the gap close. Well, maybe...
Forgive me, were you doing a postdoc?
Forgive me, were you doing a postdoc?
oooh! No.
[i]Cheque. [/i]
tbh Business shouldn't be really writing out cheques payable into personal accounts...
tbh Business shouldn't be really writing out cheques payable into personal accounts...
Why not? I was a sole trader for 3 years, and that's how I got paid.
I was a sole trader for 3 years
You bought and sold soles?? 😯 👿
ooops, just checked spellings. Sorry. You're ok
The Flying Ox
While it was accepted practice, in reality an awful lot of cheques never made it into the accounts... Its fine to pay '@Joe Bloggs T/A Sole Trader.
I was informed by our HR specialist about 5 years ago, as I inherited a number of sole traders.
in reality an awful lot of cheques never made it into the accounts
Surely that is between the 'payee' and the taxman and nothing to do with a business paying a contractor ?