working as consultant-doing my own taxes

zzfh · 29-09-2016 01:16AM #1

Hi, This might be the most noob question ever.

i will be starting work as a consultant/contract work. i have absolutely no idea where to start. I know i have to get the tr1 form filled out and i know i'm going to have to get an accountant to do my taxes when the time comes. While i'm working and logging my income (to give the accountant) etc, how should this look? just in a book with weekly incomes wrote in? and expenses? or does there need to be more info?

Lockedout2 · 29-09-2016 06:01AM

Why not go to an accountant first and get your system set up properly.

Are you a sole trader or a company. Do you need to register for VAT?

relax carry on · 29-09-2016 08:30AM

zzfh wrote: »

Hi, This might be the most noob question ever.

i will be starting work as a consultant/contract work. i have absolutely no idea where to start. I know i have to get the tr1 form filled out and i know i'm going to have to get an accountant to do my taxes when the time comes. While i'm working and logging my income (to give the accountant) etc, how should this look? just in a book with weekly incomes wrote in? and expenses? or does there need to be more info?

Speak to an accountant now. This should have been done before you started.

zzfh · 29-09-2016 10:15AM

Lockedout2 wrote: »

Why not go to an accountant first and get your system set up properly.

Are you a sole trader or a company. Do you need to register for VAT?

i will be down as a sole trader. No,wont need to register for VAT.

working as consultant-doing my own taxes

Comments