The public should call their bluff and anybody working in PAYE employment should register as part time self employed. They could be taxi drivers at the weekend or the wife could knit woolly jumpers. All of which would be for cash. Why register as self employed?
Well the self employed may offset their losses and or start up costs against their PAYE employment. This would bring them out of the 40 pence bracket. There is a 100% Capital Allowance for computers and so if you use the Xmas present for self employed work then the cost is tax deductible.
Your losses may be set against PAYE and with a bit of work on the very same computer you could get a nice rebate next year or carry it forward and move down a bracket!!!!!
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