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Topic: Self employed confusion  (Read 1163 times)

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Self employed confusion
« on: September 15, 2020, 02:37:32 PM »
I think I'm in a bit over my head. I'm self employed, but managed to make a couple thousand during this last tax year and I'm struggling to understand the tax forms.

During the last tax year, while awaiting my visa in the states I had one job and a renewed contact in the US that provided $ to help me through the last year+. I've filled out and received all tax returns for US but I don't know if I'm technically a dual resident, etc.

Are tax people expensive out here? Are there any one of you can suggest for self employed people in the entertainment industry?

Help please!
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Re: Self employed confusion
« Reply #1 on: September 19, 2020, 03:26:52 PM »
Are you a UK resident now and self employed in the UK? Or has your freelancing work been done by your US employer while living in the UK?

If you're a US citizen who is a UK resident and self employed, your taxes get pretty complicated. It depends on if you're a sole trader or limited company and I highly recommend hiring an accountant to make sure you get it right in both countries. I just started as self employed in the UK and I tried for months to figure things out on my own and it's nigh on impossible. The really simplified version is that the US and UK both define self employment differently and that makes some laws written to prevent double taxation irrelevant. I've found an accounting company that seems to know what they're doing, but I've hired them for next year's taxes, so I can't really speak for them yet. I'd be happy to PM you their info if you're interested.

If you worked as a freelancer in the States before moving to the UK and have had regular, taxable jobs in the UK since moving, then I think you just do whatever you normally would need to for self assessment. But I'm not certain on that at all, definitely check with someone with more experience than me!
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