From: "Doug Ramage" 
Newsgroups: uk.finance
Subject: Re: Tax Payment On My Cash Business
Date: Mon, 4 Aug 2003 11:28:21 +0100


"Peter Saxton"  wrote in message
news:gbcsivscd7vi1m876qvs61i8mn9bd9rtj2@4ax.com...
> On Mon, 4 Aug 2003 09:12:06 +0100, "Doug Ramage"
>  wrote:
>
> >
> >"James Thorpe"  wrote in message
> >news:bgl3kk$g95$1@news6.svr.pol.co.uk...
> >> I have recently started my own successful home visiting personal male
> >> massage service, I have started this with out any financial training.
I'm
> >> getting paid of course in cash by my clients as I operate a rather
> >discreet
> >> business. However, I wish to know approximately when will I have to
return
> >a
> >> tax form and how much tax should I keep to one side.
> >>
> >> Is it a law that I have to put all my cash through a bank account. Due
to
> >> the nature of my work, almost 100% is paid in cash.
> >>
> >>
> >
> >New businesses must register with the IR within  3 months. Don't forget
> >Class 2 NI, if relevant.
> >
> >Assuming your  business started after 5 April 2003, any tax will be due
by
> >31 January 2005. Likewise any Tax Return, if issued before 31 October
2004.
> >Otherwise there are penalties for non-notification of chargeability.
> >
> >There is no legal requirement to deposit cash receipts in a bank account.
> >However, you need to maintain sufficient financial records to complete
your
> >Tax Return.
> >
> Doug, you're replying to a Golden Gun posting. He earns 7.75 an hour
> annoying people on the phone.
>
>
> Peter Saxton from London
> peter@petersaxton.co.uk

My initial thought was "troll". :)

Nonetheless, the questions had some general application.
--
Doug Ramage