Hello,
I am not sure if these questions have been asked before. If yes, I am sorry but you can direct me to the page
I am currently on PSW which will be expire last week in dec, 2011. However I want to apply around October. I am currently employed but my salary is 24, 000, rather than the expected 35,000. Thus I want to claim for self-employed activities as well (sole trader).
1- Should I use a business current account or a normal current to show these extra earnings. I will claiming extra income for IT projects
2- Wili it be advisable to claim from my country of origin - earnings for IT projects deployed over there.
2b) How will I show the earnings in that country as the Tax system is terrible. Should I use a current/business account over there too.
3- Once I raise these invoices for my prospective clients, which is the best way to show income - cash, cheque or online transaction
4- I have been told I need to pay tax on this income. Is it better to pay myself salary from the account I eventually setup, so that the income tax I pay won't be enormous.
Thanks for your anticipated help
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