I will soon be starting out as a Sole Trader doing some occasional digital work. At this point I am not expecting to make a great deal of money but this could catch me by surprise over the period of a year.
I really don't know whether I should apply for a Small Earnings Exception or not.
If I DO NOT apply and make less than the threshold, how long do I have to claim this back? Is it an easy process?
If I DO APPLY and go over the earning exception, Is this more complex?
I am considering signing myself up a sole trader so I can do some freelance graphic design work for a couple of local business. I will continue to work in full time employment so my question is: will I still have to Pay national insurance as a freelancer when I pay it though my monthly pay checks already?
Sorry if this is a stupid question, Im trying to get my head around this and it's a lot to take in.
Please note, my earnings as a freelancer will not tend to be very heigh. I am aiming for a couple of thousand a year at most. So well within the VAT limits ect...
