Tax Rebates & Refunds

Good record keeping is vital when you have self-employed interests

June 14, 2012
Posted in Other Tax — Written by Geoffrey

When you work for yourself at the same time as working for your employer you need to be particularly savvy about the world of taxation. You have to make sure that you keep plenty of records about the commodities and other things that are tax deductible, but you also have to keep a close eye on the documentation relating to the amount of tax you need to pay.

People who have other working interests outside of their main job often earn money in a less regular fashion because they complete work as and when they get it. Journalism is a good example of this. You may earn money for articles that you write every now and again and then put the money in a business account.

You must keep records properly if you do this sort of thing. When you get a tax bill you may notice that something just isn’t right about it and you may need to chase things up to make sure you are only paying what you are supposed to be paying. Claims agencies can help you resolve the problem, but you need to have supporting documents to back up your claim.

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