Tax return time!

crazie-girlie

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Hi I need your help! I am a married mum of one (baby girl is 9 months old) and in three months I am due to go back to work and like most new parents I really don't want to! Whilst on maternity leave I have tried to develop my own business but looking after my daughter is a full time job and to create a business at the same time is not as easy as I thought it would be! I have tried different scenarios but I have concluded that the only way this business (whatever it may be) will work is that if has to include my daughter, who is by my side 24/7!

This is where I need your help- I have started a Facebook page 'Mummy's mission' and twitter page '@mummysmission' hoping that people can help share any ideas that they may have or if they have been in a similar situation and what they did.
I want to get this out to as many people as possible to see how many other people are in a similar situation so we can all share this and ensure that time with our babies is not drawing to an end.

Many thanks,

Mummy's mission xx
 

Phoenix

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Hello there, I am sure there are many mums in the similar position as yourself. The thought of going back to work and leaving baby with family or a baby sitter is not a very nice thought.
I am a Phoenix Trader. Phoenix Trading was started by three young enterprising mums in London about 20 years ago. They wanted to supply unique greeting cards to people not sold in shops and sold by independent Phoenix Traders, most of whom are busy mums.
Take a look at my website for more details.
http://www.phoenix-trading.eu/web/paulamatt

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OrganisedPauper

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I'm a similar situation, but I have a teenage daughter who, amongst other things, is Aspergers and I can be required to have to drop everything at any moment. I also have quite severe limitations of my own due to health problems. But we really need more income and I cannot go out to work.
 

RedAlix

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Hi,

Do you want to put links up to your facebook pages and twitter? I can't find them!

I was in your position 7 years ago and I am still working from home (with 7 year old and 2 year old)
 

crazie-girlie

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Hi all,

Thanks for your responses.

My links are:

https://twitter.com/Mummysmission
https://www.facebook.com/abbies.mum.3

Looking forward to you following me x
 

alundra

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Can you return back to work part time and do a job share with someone? There may be someone else who is willing to share hours/job with you and may be flexible too. Several people did this when I was working, this seems to be popular at Universities.
 

Jon

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Do you have an update for us at all on how your campaign is going?
 

Steve1912

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I'm not sure how to do my self assessment this year. I've been registered as self employed for a few years selling pet stuff and have done my self assessment on this + my PAYE day job. The pet business fizzled out last summer (2013) and I started to do 63336 and mystery shopping (which I've lumped together as 'Mystery Research'). However I didn't think to notify HMRC of the change. I've therefore got two sets of self employed accounts which need declaring for 2013/14 - the pet one & Mystery Research. Will it cause me a problem declaring them both separately on the tax return? I'm worried there's going to be a penalty for not having registered a new business. Or can I just lump it all together under the Pet one that they already know about?
 

Jon

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I just lump all the companies I work for in together!
 

caledonia1972

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Yes I lump everything together too.

If you are confused just pick up the phone and call the helpline, they are VERY nice and very helpful and not at all scary. I had to call them about a technical query once about converting earnings in dollars and they were super friendly.
 

Jon

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yeah I Agree they are good on the phone

better to ask than not to
 

RuthB

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You can keep separate accounts of different sources of income but all the Revenue people are interested in is your total income from self employment. You should also add your expenses together to be deducted from gross income so you can declare your net income for tax purposes.

I now fill my self assessment in online and it's a much simpler process than it used to be.
 

Steve1912

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Thanks guys. I think it's a case of over-thinking the situation. OCD kicked in big time!
 

RedAlix

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Since starting neobux I am now confusing myself with tax info. If I have earned $90 and reinvested $85 do I say I have earned $90 and the $85 is expenses or do I just give my profit of $5. (I have only actually withdrawn $5 to my paypal account)
 

Jon

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RedAlix said:
Since starting neobux I am now confusing myself with tax info. If I have earned $90 and reinvested $85 do I say I have earned $90 and the $85 is expenses or do I just give my profit of $5. (I have only actually withdrawn $5 to my paypal account)


Err, that is a tricky one.


If I made £95 through something on TMS the fact I have re-invested £80 into the site is kinda irrelevant I think. I have earned £95 so that's what I put down


It sounds like you are trying to say is NeoBux an expense I could claim against but I could be wrong
 

RedAlix

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It is a bit confusing really, I can't see them being much help if I did phone them as they may not even know what neobux is.


With KP Automotive its so simple as there is income from sales and expenses in the form of hosting, purchasing the items to sell, paypal fees etc.


Not really sure if paying for referrals is similar to buying stock as the more I buy the more money I make!
 

Jon

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RedAlix said:
It is a bit confusing really, I can't see them being much help if I did phone them as they may not even know what neobux is.


With KP Automotive its so simple as there is income from sales and expenses in the form of hosting, purchasing the items to sell, paypal fees etc.


Not really sure if paying for referrals is similar to buying stock as the more I buy the more money I make!


Yeah it is a tricky one, maybe KatyKicker may know
 

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