Tier 1 General what counta as income for part self-employed

[sonny79]

Hi!
To start with sorry for wasting your time if this has already been asked before, but my question is related to the earnings during the previous year.

I had registered with HMRC previously as sole trader as well as for VAT. However, a few months down the line I found a permanent job with a good firm. This helped me with showing more funds towards previous earnings. With respect to my self-employement, I continued with it during weekends mostly.

My question relates to the monies earned under self-employment. Would the gross income be counted as profit before tax and NI, or is it considered as total turnover for the sole trader?

Also as I was mostly rendering services, would the VAT be payable on all services rendered?

A speedy reply to this would be highly appreciated.

Thanks in advance.

[brajen]

Hi!
To start with sorry for wasting your time if this has already been asked before, but my question is related to the earnings during the previous year.

I had registered with HMRC previously as sole trader as well as for VAT. However, a few months down the line I found a permanent job with a good firm. This helped me with showing more funds towards previous earnings. With respect to my self-employement, I continued with it during weekends mostly.

My question relates to the monies earned under self-employment. Would the gross income be counted as profit before tax and NI, or is it considered as total turnover for the sole trader?

Also as I was mostly rendering services, would the VAT be payable on all services rendered?

A speedy reply to this would be highly appreciated.

Thanks in advance.

In relation to self employment, Profit before tax and any other deduction should be considered as the Gross earning for claiming points.