I'm a stay at home mum and have just been offered some regular work doing internet research from home. I will be self-employed, not an employee. I will be earning very little money, £50 - £100 per week, as I'll only be doing a few hours. Do I need to register as self-employed?
Also will it have any impact on tax credits- if I work 16hours + per week as self-employed do you know if we qualify for anything extra? I looked at HRMC website and my head started to spin so thought I'd get someone to explain in plain Englsih before venturing back there.
You should register anyway, you will have to do a tax return each year though. The tax office will then give you a new tax code, you phone up the tax credit office and tell them you are self employed and give them this tax code, you can then get working tax credit for this providing you are working 16 hours a week or more. Remember that you need some admin time for accounts etc aswell. The amount you will get does depend on your circumstances aswell as they will take your partner/husbands earnings into account.