Obviously, once you earn more than £1000 you need to register with HMRC as Self Employed and while you may not pass the threshold to pay tax you still need to declare your incomings and outgoings.
For the last however many years I've been doing this manually vis Spreadsheet and as for expenses, I've been totally crap and claimed NOTHING, literally a big fat zero! I just couldn't get my head about keep tabs on it while I was working full time as well but now I'm 100% self-employed I wanted to do it as obviously, the less tax you have to pay the better!
I've spent the last few weeks playing around with different 'self-service' websites that offer a platform for 'one man band' type setups who are Self Employed as a Sold Trader and have ended up using FreeAgent
It's VERY easy to use, everything is in plain English and it even submits everything to HMRC for you when you want to so you don't have to go through their endless online forms! It can do everything for you which includes sending out invoices to people with your PayPal link, they pay and it all gets tracked automatically!
so how do you track everything with your online work?
For the last however many years I've been doing this manually vis Spreadsheet and as for expenses, I've been totally crap and claimed NOTHING, literally a big fat zero! I just couldn't get my head about keep tabs on it while I was working full time as well but now I'm 100% self-employed I wanted to do it as obviously, the less tax you have to pay the better!
I've spent the last few weeks playing around with different 'self-service' websites that offer a platform for 'one man band' type setups who are Self Employed as a Sold Trader and have ended up using FreeAgent
It's VERY easy to use, everything is in plain English and it even submits everything to HMRC for you when you want to so you don't have to go through their endless online forms! It can do everything for you which includes sending out invoices to people with your PayPal link, they pay and it all gets tracked automatically!
so how do you track everything with your online work?