01-24-2007, 07:48 PM
Hi all,
I'll try keep this short and to the point.
I have been operating as a self-employed web developer for about 1.5 years. the first 6 or so months of that were very sketchy doing odd jobs etc. The last year has been more full time.
I havenât as yet paid any tax or national insurance contributions etc. I'm not even sure the relevant authorities know I exist... Tax return time has swung round and I really need to act.
I plan to gather all invoices raised and bank statements available, get together anything redeemable(phone bills, equipment purchases etc) and organise it. Chances are not much will link up as Iâve not taken thing as seriously as I should.
Now, How much am I likely to pay back, if my income for the last year or so has been in the £30-40k region?
Is there Any way of getting out of full repayment? I ask this as I understand there is certain leeway for someone in the first year of operation? Correct me if I'm wrong.
I have no idea where I stand at the moment.
Also note, I havenât been saving much if anything (.
to summarise. I am soon to inform the revenue I've been working self employed the last year at least, tell them how much I believe to have earned, show my somewhat scrappy records and only have about £3k to my name.
Any help/advice/suggestions/b*llockings is/are very welcome!
Regards,
Phil
I'll try keep this short and to the point.
I have been operating as a self-employed web developer for about 1.5 years. the first 6 or so months of that were very sketchy doing odd jobs etc. The last year has been more full time.
I havenât as yet paid any tax or national insurance contributions etc. I'm not even sure the relevant authorities know I exist... Tax return time has swung round and I really need to act.
I plan to gather all invoices raised and bank statements available, get together anything redeemable(phone bills, equipment purchases etc) and organise it. Chances are not much will link up as Iâve not taken thing as seriously as I should.
Now, How much am I likely to pay back, if my income for the last year or so has been in the £30-40k region?
Is there Any way of getting out of full repayment? I ask this as I understand there is certain leeway for someone in the first year of operation? Correct me if I'm wrong.
I have no idea where I stand at the moment.
Also note, I havenât been saving much if anything (.
to summarise. I am soon to inform the revenue I've been working self employed the last year at least, tell them how much I believe to have earned, show my somewhat scrappy records and only have about £3k to my name.
Any help/advice/suggestions/b*llockings is/are very welcome!
Regards,
Phil
