Self-Employed Option under new rules of HSMP

[sids]

Dear all

Hi

I have joined the forum today. I have gone through some of the earlier mails. I have some questions about the self-employed option under the new rules of HSMP. Please ignore these if these have already been discussed.

1. It is legally allowed to work from home (provided one is paying all the taxes). Examples are IFAs, mortgage advisor. Can a person be considered self-employed if
a. he is working from home in his individual capacity?
b. he is working from home after registering a company (sole ownership or partnership) ?

2. Is it essential to have a separate office for a self-employed person under the new HSMP rules?

3. Both Trade and Services are mentioned in the rules. Will it be acceptable to HO if the business is running in loss or on break-even as normally is the case for new businesses.

regards,

Sids

[rizwan567]

According to my limited knowledge, you can be self employed at your home address..............

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[fosho]

yes you can be self employed from your home, I have been doing some work on my own as self employed during my OFF days but you need to declare your earnings as self employed as a consultant, builder, Engineer or what ever ...