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Becoming self employed while on maternity

(4 Posts)
PinaColadas Wed 03-Dec-14 23:58:46

I wonder if anyone can help me. I'm currently on maternity leave getting SMP from my employer. In the last few weeks I've been having a bit of time on my hands and been making a few crafty things and friends have been buying them off me.
It's got me thinking I wonder if it's a starting point to earn a bit more money and (maybe getting a bit ahead of myself here) leaving work and having my own business. But in the meantime I want to do this properly and not be breaking the law! I know from researching that if I ' do any work in a self-employed capacity during your MPP, then such work will not affect your SMP.'
But what about paying tax? How does that work?

PinaColadas Sat 06-Dec-14 22:12:40

Shameless bump as a last ditch effort smile

milkjetmum Sat 06-Dec-14 22:18:58

I worked during my smp, self employment about 1 day per week.

You will have to register for self assessment taxes, and pay ni contributions (not expensive) then pay your taxes at end of financial year.

Although I started work when dd2 was young (3 months) It enabled me to be at home longer from my 'real' job with dd2 than I could have otherwise afforded (was only entitled to statutory smp).

Disclaimer - not a legal/financial expert, this is just what I did!

PinaColadas Sun 07-Dec-14 13:46:53

Thank you very much Milkjetmum. I will register asap. That's what I want to do too, SMP is pittance isn't it!

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