Self employment earnings

[Amapee2008]

Hi all,


I came in june 2008. extending in jan 2010.

I plan to present both salaried and self employment as previous earnings but a bit confused about how self employment earnings is calculated. all self employed monies went in through my account and NI for self employment taken directly by HMC. To calculate my earnings for selfemployment will it be what is left after NI and expenses?

Please the replies are most valued.

Thanks

[blue.olive]

Total Earning will be Gross receipt less business expenses you incurred to earn this earning which you can ignore if you need to show more earnings
but more earning you declare in your tax return more tax you are liable to pay. So its double edge sword.
NI deducted by HMRC is not your expenses

Hi all,


I came in june 2008. extending in jan 2010.

I plan to present both salaried and self employment as previous earnings but a bit confused about how self employment earnings is calculated. all self employed monies went in through my account and NI for self employment taken directly by HMC. To calculate my earnings for selfemployment will it be what is left after NI and expenses?

Please the replies are most valued.

Thanks

[cheshiregoan]

Hi all,


I came in june 2008. extending in jan 2010.

I plan to present both salaried and self employment as previous earnings but a bit confused about how self employment earnings is calculated. all self employed monies went in through my account and NI for self employment taken directly by HMC. To calculate my earnings for selfemployment will it be what is left after NI and expenses?

Please the replies are most valued.

Thanks

The income considered by Home Office is your taxable income in any case - employed or self-employed

[Amapee2008]

Thanks blue.olive

[Amapee2008]

Thanks Cheshiregoan. so it all boils down to how your accountant presents the paper work, right?
much appreciated