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  1. #1
    @hibs.net private member lord bunberry's Avatar
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    Self employed to employed

    Iím thinking of leaving self employment and getting a job. Has anyone ever done this and how did you go about it regarding tax? Obviously I currently submit a tax return every year, but what Iím worried about is that if I take a job I will end up paying more tax than would be normal until everything is sorted out. Taking on a job will probably result in less money, but I canít afford to take a big reduction even if I get it back eventually.

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  3. #2
    Everything was easy enough when I done it a few years ago. Getting used to having no cash and actually withdrawing money from the bank was the strangest thing.

  4. #3
    Quote Originally Posted by lord bunberry View Post
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    Iím thinking of leaving self employment and getting a job. Has anyone ever done this and how did you go about it regarding tax? Obviously I currently submit a tax return every year, but what Iím worried about is that if I take a job I will end up paying more tax than would be normal until everything is sorted out. Taking on a job will probably result in less money, but I canít afford to take a big reduction even if I get it back eventually.
    I did the switch last March, it was seamless regarding paying tax. I thought it would be an issue too but didn't even have to pay any kind of emergency tax.
    Still getting used to getting paid for holidays, as you'll know it's a big hit taking your summer holidays when you're self employed.

  5. #4
    @hibs.net private member
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    Quote Originally Posted by Killiehibbie View Post
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    Everything was easy enough when I done it a few years ago. Getting used to having no cash and actually withdrawing money from the bank was the strangest thing.
    Agree. Also that regular salary payment landing like magic every month was also quite weird to get used to again!

    As for the OP. I honestly canít remember any issues at all but it was quite a while ago so sadly I canít tell ya why that was the case.

  6. #5
    Not sure I could ever go back to working for someone again.

  7. #6
    Quote Originally Posted by patch1875 View Post
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    Not sure I could ever go back to working for someone again.
    Not an easy thing to do. Almost forgot how many lazy, useless people there are hiding in the workplace.

  8. #7
    @hibs.net private member StevieC's Avatar
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    Quote Originally Posted by patch1875 View Post
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    Not sure I could ever go back to working for someone again.
    Iíd be the same. It can be a tough slog being self-employed .. but itís your tough slog
    But you know it ain't all about wealth,
    as long as you make a note to .. EXPRESS YOURSELF!

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