How to record bookkeeping service in the books

[Martaa]

I will be doing some bookkeeping for sole trader, how will I record that in the books? I am not her employee and I am not self employed. It would take few hours per month to do the job. Shall I ask her to employ me?

 

[papervalue]

I will be doing some bookkeeping for sole trader, how will I record that in the books? I am not her employee and I am not self employed. It would take few hours per month to do the job. Shall I ask her to employ me?

I really depends on how many other people you are going to do work for, so maybe register as self employed if you will be doing it for a number of people

if just her you can either

1. get her to employ you, put some credits/bands against that employement. you will have to register her as employer

2. if amount not that big for year, include in your own tax return as self employed/extra income in a form 12


in books it will go as expense sush aw wages, or accountancy and bookkeeping

 

[Martaa]

I work full time for one company. That few hours of bookkeeping for sole trader its just extra money I want to earn.

 

[papervalue]

What ever way you do it you will have to pay tax on it. If you need certainty on it go as a employee with her and pay the appropiate tax, use unused band from main job each week and tax rest at higher rate. Do a balancing sttaement at year end and get back tax if overpaid

I would not accept it as a cash Job, as a simple question on a Revenue Audit is who does up your books and how are they paid- If she saids she paids you cash, could end up with Audit yourself

 

[Martaa]

ok thanks for advice