Self Employment

Evening All.

My partner is going self employed so i will just give a quick brief up on what he does and what im trying to achieve being here!

John my partner works for a dog groomer , but she is paying him Cash in hand ( Which we are both not happy about but he cant turn down the money or we be living on the streets) he is also working at a dog kennels … low and behold that is also cash in hand. what he wants to do is go self employed so he can pay his stamp and taxes ( if he meets the threshold)

He has registered today as Self Employed .
He gets paid weekly by them both so i was wondering does he present invoices to them on a weekly basis , for his services as an agency dog groomer . Also he will be using his personal account so when he takes drawings there will be no bank transfer between a business account and a personal account . So do i still record on Quick files a transfer from Current a/c to Proprietor Drawings Account a/c . And could he take the whole amount out of current and personally pay for his phone and fuel as he will be under the tax threshold .

I do apologise for any errors in my grammar . Its been a long and frustrating day for me

Hello!

Firstly, it’s sort of up to you how you work there invoices. However the issue date is generally considered as the tax date too, do should relate to when the work was completed. It may even be worth talking to the clients (the groomers and kennels) and see how they wish to work it - monthly, weekly etc.

Secondly, What you could do with your finances is record just the business transactions in the current account and leave out all the personal ones. I would suggest having a separate business bank account though for ease (makes it easier to track and trace if needed).

Hope that helps :slight_smile:

1 Like