Firstly, I am a sole trader and this is a question regarding my personal tax. So, I hope this is the correct forum and that it shouldn't be in the business tax forum.
I have been a sole trader for 30 years. Tax-wise, I have a perfectly bill of health - tax-clearance cert etc...
I have been asked to do six days of teaching in a national educational institution.
My question is simply this; should I be paid the full amount of the fee (hours worked x hourly rate) or are they entitled to tax any of it?
I have been asked about providing something called tax credits? What are they?
Obviously, I would like to be paid the full amount, and let my accountant sort it out at the end of the year.
Any help appreciated.
Many thanks.
D.
I have been a sole trader for 30 years. Tax-wise, I have a perfectly bill of health - tax-clearance cert etc...
I have been asked to do six days of teaching in a national educational institution.
My question is simply this; should I be paid the full amount of the fee (hours worked x hourly rate) or are they entitled to tax any of it?
I have been asked about providing something called tax credits? What are they?
Obviously, I would like to be paid the full amount, and let my accountant sort it out at the end of the year.
Any help appreciated.
Many thanks.
D.