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Earning confusion Please help both self employed and employe

Archived UK Tier 1 (General) points system forum. This route no longer exists.

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mailnemo
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Joined: Tue Apr 13, 2010 3:45 pm

Earning confusion Please help both self employed and employe

Post by mailnemo » Tue Apr 13, 2010 3:49 pm

Hi

I have a query regarding HSMP (Tier 1) Application ,I earn £33000 from one employment and £17,000 I have earned as freelancer as I am also self employed .In this IT consultancy work as freelancer whenever I work for different clients they some time pay me in cash which I deposit in my other bank a/c and I raise them invoice and my accountant can certify that and also sometime they pay me check which I also deposit to my self employed bank A/c .I am presently in PSW visa .
My query is what ever comes to my self employment bank a/c should be considerd as my income before tax .Is this correct ?

Regards
Nemo

lovetohelp
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Posts: 1
Joined: Tue Apr 13, 2010 7:47 pm

Post by lovetohelp » Tue Apr 13, 2010 7:52 pm

Hi,

You need to get your accountant to draw your accounts. You need to detect your expenses from the money you have earned and the rest will be your income.

These expenses are your cost to earn that money, like travelling , software cost you have bought and other expense.

I hope this will help.

Regards

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