HEEEEELP

[donnadoo2004200]

Im so confused. I had a job which I gave up 2 Jan 09 to start childminding. I started minding on 5 Jan 09. So far I have paid tax and ni until Jan 09 when I left my previous job. I have told IR I am now self employed. When will I get a tax bill and how do I pay NI contributions? Please help me.

[madasahatter]

Don't worry!!!
Firstly your self employed national insurance class 2 (self employed) contributions. Give the inland revenue a ring to set these up. It's around £2.10 per week and you can pay by monthly direct debit.
Secondly your tax bill - there's no hurry. In april the inland revenue will send you out self assessment forms for the tax year April 08 to April 09. On them (or online) you will fill out the details of what you have earned and paid tax and NI on in the job you gave up and also details of what you have earned and expenses for your self employment. If you send in the paper self assessment form to the IR by 30th sept they will work out your tax for you. If you do it online it will work everything out as you go along and you have until 31st Jan 2010 to submit it (and pay any outstanding tax)
In addition to class 2 national insurance you also have to pay class 4 national insurance contributions depending on how much profit you make over and above the basic tax allowance.
So as I said at the beginning...DON'T WORRY!! you have a lot of time yet. If you ahve any other questions when you have got your forms then shout out

[Chatterbox Childcare]

If you have paid tax in your job you will probably get a refund so make a loss as large as you can for your childminding. This can be carried forward next year too.