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Posted By Lumpy
I've been asked to provide some basic fire training (well within my capabilities MIOSH RSP) to a firm of solicitors. I'm in full time employment and have never done this before. I don't plan to move into consultancy, but will undertake this sort of thing for "pocket money". Anyone know what the tax implications are for ad-hoc second jobs etc ?
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Rank: Guest
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Posted By John Allen
Dear Lumpy,
from what you state you are doing this work under a “contract for service” rather than a “contract of service” ie you are not employed by the solicitor. This means that National Insurance is not deductible but income tax is applicable as you are earning income.
There are two alternatives: -
Either you get the solicitor to deduct income tax at the appropriate rate and pay you the net amount, or you get them to pay you the full amount and you declare it on your tax return at the end of the year. The tax man will adjust your code accordingly in your next financial year to recover the tax on the money earned.
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Rank: Guest
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Posted By Paul Leadbetter
Lumpy
You pay!
Don't forget about professional indemnity insurance (the cost of which can be set against your earnings).
Paul
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Rank: Guest
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Posted By Linda Crossland-Clarke
Hi
You sould register as self employed, and pay class 2 national insurance - £2.10 per week. You can deregister at the end of the job. There is something called "small earnings exemptions certificate", which may mean you dont have to pay NI, but I am not sure on the learnings level for this. The tax office have a unit dedicated to assisting small businesses - free - so give them a call.
You will have to do a tax return at the end of the year. Don't forget you can deduct all your expenses, milage, training props etc, which will bring the tax mans portion down.
Regards
Linda
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