OK. Let's answer some of your questions. >> i live in the UK, i'm an actor, i receive wages as a self employed person. so, am i a business. show more OK. Let's answer some of your questions.
>> i live in the UK, i'm an actor, i receive wages as a self employed person. so, am i a business? >> Yes, you are. In effect you are a "one man" business.
>> is my business name the same as my name? >> Probably unless you work under a different name in which case your stage name would be your business name.
>> WHY is this form so complex and difficult to understand >> Tricky one. Some say the "new style" form is, in fact, easier to follow than the old version.
>> if i do something wrong i get penalised, right? >> Not always, no. It depends on the nature and size of your "error".
>> so what's the ebst way to avoid messing it up. >> take it easy. If
you are filing a paper version of the tax Return remember that you have until 31st October 2008 to get it filed so there's no desperate rush. Just fill in any of the little
boxes that apply to you, send it in and let the Revenue calculate your tax bill for you.
If you are filing online then you will have until 31st January 2009 to file it.
>> is it basically required of me to become an accountant or hire one? >> No. You sound literate enough to work your way through the form without getting it wrong and, yes, you can take it to a tax office/enquiry centre for help.
>> WHY DIDN'T THEY TEACH ME THIS STUFF IN SCHOOL. >> Aha. Good question. "They" are considering this at the moment. Introducing some form of "real world" financial education into UK schools but when that will ever come about is anyone's guess.
Remember take it steady. you CAN do this.
musicman · 7 years ago