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self employed earning

Archived UK Tier 1 (General) points system forum. This route no longer exists.

Moderators: Casa, archigabe, CR001, push, JAJ, ca.funke, Amber, zimba, vinny, Obie, EUsmileWEallsmile, batleykhan, meself2, geriatrix, John, ChetanOjha, Administrator

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Hamid123
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Posts: 15
Joined: Sun Nov 29, 2009 9:37 am

self employed earning

Post by Hamid123 » Thu Dec 24, 2009 10:40 pm

Hi Seniors

i am self employed, right now every month depositing 1000pd for 12K gross.

yesterday i went to accountant and he told me that for self employed you need to show 12k net not gross in your account. its mean 2000 pounds for 24K gross.

he also told me that for business or self employee you have to show net amount not gross amount and for job the gross paid will be consider..?

please guide..... is it right i have put 2000 pounds every month in my account or 1000 for 12 gross

please guide me

John
Moderator
Posts: 12320
Joined: Wed Nov 10, 2004 2:54 pm
Location: Birmingham, England
United Kingdom

Post by John » Thu Dec 24, 2009 10:56 pm

It might help if you say the nature of your self employment. And the nature of the expenses you need to incur to earn your profit.

Clearly it is the profit you make from your business that counts, not the amount of your turnover.
John

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