I have a main job but by default I’m now also running another business due to failing health of a friend. He wants to write me a cheque for all the work I’m doing and I don’t mind paying tax on this, but how do I go about that, do I just send HMRC 20% of what he pays me? I don’t really want to go on his payroll as an employee nor do I really want to submit invoices etc - I really don’t know what’s involved! Any help appreciated thank you
Second job tax implications
Collapse
Loading...
X
-
-
You can't just send HMRC money (and what about National Insurance?). And he can't just give you money out of company funds with no documentation to support it.
Does his business have an accountant who can advise you? Does it have existing employees?
In your current main job are you and employee paid under PAYE?All opinions expressed are based on my personal experience. I am not a lawyer and do not hold any legal qualifications.
-
You might contact HMRC.
You may need to deal with this through a tax return. In that event, put more than sufficient money in a deposit account until you need to pay the tax.Lawyer (solicitor) - retired from practice, now supervising solicitor in a university law clinic. I do not advise by private message.
Litigants in Person should download and read the Judiciary's handbook for litigants in person: https://www.judiciary.uk/wp-content/..._in_Person.pdf
Comment
View our Terms and Conditions
LegalBeagles Group uses cookies to enhance your browsing experience and to create a secure and effective website. By using this website, you are consenting to such use.To find out more and learn how to manage cookies please read our Cookie and Privacy Policy.
If you would like to opt in, or out, of receiving news and marketing from LegalBeagles Group Ltd you can amend your settings at any time here.
If you would like to cancel your registration please Contact Us. We will delete your user details on request, however, any previously posted user content will remain on the site with your username removed and 'Guest' inserted.
Announcement
Collapse
Court Claim ?
Guides and LettersSHORTCUTS
Pre-Action Letters
First Steps
Check dates
Income/Expenditure
Acknowledge Claim
CCA Request
CPR 31.14 Request
Subject Access Request Letter
Example Defence
Set Aside Application
Witness Statements
Directions Questionnaire
Statute Barred Letter
Voluntary Termination: Letter Templates
A guide to voluntary termination: Your rights
Loading...
Loading...
Comment