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Tax & Freelance Platform (Like Upwork and PPH)

(3 Posts)
SweetMummy911 Thu 07-Dec-17 14:02:29

Hello ladies

Total novice here so please be patient. Trying to do some freelance work via platforms such as Upwork and PPH - I'm all registered and ready to go however I'm reluctant to "bid" for any jobs until I understand how the tax is calculated? Do I need to inform the HMRC and fill-out self assessments?

Thanks in advance flowers

KadabrasSpoon Thu 07-Dec-17 22:56:51

Yes you will need to register for self assessment once you start earning. The online form is straightforward. Best to keep some money back for when the tax bill comes.

LunasSpectreSpecs Sun 10-Dec-17 16:07:16

As the poster aboive said, it's really easy. You need to inform HMRC that you're self-employed. Call their helpline, they are really helpful. You'll need basic details like your NI number.

All pay you receive through sites like PPH is gross - they don't deduct any tax or NI as you're self-employed. At the end of the year you'll complete a self assessment which again is really simple assuming you don't have complex overseas property rentals or other income. Depending on what you earn, you might not pay tax at all.

I keep a basic Excel spreadsheet of what I'm earning, broken down by month and by income stream. All of my money is paid into my bank account so the paper trail is there should HMRC ever ask to see it, which they never have.

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