PAYE tax rebate now im self employed.

[pennychew]

Left my old job last August so i will have paid PAYE tax for 4 months, im now self employed but havent got round to registering online or sorting an accountant yet.

Technically i should be due a decent rebate come April but will i get this automatically by cheque or do i have to claim it when i get round to registering? i have til October this year to register i think.

I know speaking to an acountant and not asking on a forum is the obvious answer here but surely theres a few on here who have been in the same position.

Stu

 

[telectrix]

claim it. have a look on hmrc website for info. good luck.

 

[pennychew]

Thanks Tel, cheque through the post would have been too good to be true i suppose!

 

[Octopus]

Step one. Call HMRC and register as SE
step two. Set up DD to pay NI
step 3. Buy file to store ALL receipts
step 4. Locate local accountant
step 5. Why do you think you will be due a rebate? I doubt that very much, unless your earnings since August have been less than £800 per month

 

[pennychew]

I've got all the receipts and paperwork stored, spoke to one accountant but he was wanting me to go Ltd and register for vat and all sorts. I'm sure I'll be due a rebate as I've made less per month since I left my old job and I also have loads I can offset against what I've made... College, bought a van, uniforms and all the other start up costs etc

 

[andyb]

If you've not done step 1 of Murdoch's list yet, the only thing you are due from hmrc at the moment is a £100 fine.
I'm sure you need to register self employed within 30 days.

 

[Octopus]

I've got all the receipts and paperwork stored, spoke to one accountant but he was wanting me to go Ltd and register for vat and all sorts. I'm sure I'll be due a rebate as I've made less per month since I left my old job and I also have loads I can offset against what I've made... College, bought a van, uniforms and all the other start up costs etc

Unless you are having tax deducted at source under CIS, or you are making less than £800 nett profit per month, a rebate is highly unlikely.

You will have 5/12's of a salary and 7/12's of SE!

 

[pennychew]

If you've not done step 1 of Murdoch's list yet, the only thing you are due from hmrc at the moment is a £100 fine.
I'm sure you need to register self employed within 30 days.

Hmrc website says you should register as soon as possible but that the cut off for this tax year is Oct 2015 if I've read it right

 

[pennychew]

Unless you are having tax deducted at source under CIS, or you are making less than £800 nett profit per month, a rebate is highly unlikely.

You will have 5/12's of a salary and 7/12's of SE!

Got you now, so I won't get a rebate as such from the paye but it will go towards my tax bill from seven months as S/E when I submit my self assessment

 

[andyb]

Hmrc website says you should register as soon as possible but that the cut off for this tax year is Oct 2015 if I've read it right

I hope so Penny, the missus was fined £100 for not registering within the 30 days when she quit her job to do b&b full time. But this was in. 2002/3

 

[pennychew]

I need to get on top of all the admin like but I hate it, I'll get registered tonight... I did it once before but they send you a code out by post to complete the registration and it's only valid for 30 days or something and I never got it finished on time. Need to step my game up!

 

[Octopus]

Got you now, so I won't get a rebate as such from the paye but it will go towards my tax bill from seven months as S/E when I submit my self assessment

Precisely.

Now ring them up, register as SE and get your NI sorted out too....

 

[Octopus]

I need to get on top of all the admin like but I hate it, I'll get registered tonight... I did it once before but they send you a code out by post to complete the registration and it's only valid for 30 days or something and I never got it finished on time. Need to step my game up!

In which case are you sure that going SE is the right thing?

 

[pennychew]

After 12 years working in factories with no Windows and 7 months on the road doing my own thing I've never been more certain of anything! Just need to get things in place and get an accountant to sort the rest

 

[telectrix]

Download quickfile. It's free and does all your invoicing/purchases etc. + much more.

 

[pennychew]

I've been getting by with excel and email at the moment, the wife does a bit of it for me as well. I did try a trial of some website but never got on with it and it was about a tenner month

 

[telectrix]

with quickfile you can email invoice direct to client. it even tells you when he's read it.

 

[pennychew]

sounds good but I have invoice templates set up and most of work is for two companies so I'll send a batch of 5 or 6 invoices in one email anyway. Probably just comfortable with what I'm used to I suppose

 

[pennychew]

Registered online this morning, just need to wait 10 days for the activation code then log back in and sort out NI contributions.

Thanks for the kick up the backside chaps!