Going operational with reserves when self employed

#1
I’m thinking of joining the reserves and wanting to know if anybody has any experience with pay when self employed.

I understand that they make up your pay to be in line with your income from the last year of books. Do they go off what you earnt before expenses or on what you turned over.

So for example if your last years books was 50k with 10k expenses would they make up your wage to 50k or 40k?

Thanks in advance if anybody can help.
 
#2
If you are asking this question the reserves may not be for you.
 
#4
I’m thinking of joining the reserves and wanting to know if anybody has any experience with pay when self employed.

I understand that they make up your pay to be in line with your income from the last year of books. Do they go off what you earnt before expenses or on what you turned over.

So for example if your last years books was 50k with 10k expenses would they make up your wage to 50k or 40k?

Thanks in advance if anybody can help.


You should expect a great deal of support from your unit and a mixture of malevolence, incompetence and bewilderment from most elements of the MoD.


Do it 'cos you love it not for the money.


And remember; every man thinks meanly of himself for not having been a soldier.
 

FORMER_FYRDMAN

LE
Book Reviewer
#5
I’m thinking of joining the reserves and wanting to know if anybody has any experience with pay when self employed.

I understand that they make up your pay to be in line with your income from the last year of books. Do they go off what you earnt before expenses or on what you turned over.

So for example if your last years books was 50k with 10k expenses would they make up your wage to 50k or 40k?

Thanks in advance if anybody can help.
What did you declare on your personal tax return?

There you go.
 
#6
I’m thinking of joining the reserves and wanting to know if anybody has any experience with pay when self employed.

I understand that they make up your pay to be in line with your income from the last year of books. Do they go off what you earnt before expenses or on what you turned over.

So for example if your last years books was 50k with 10k expenses would they make up your wage to 50k or 40k?

Thanks in advance if anybody can help.
What did you declare to the tax man? This may help: Rights and responsibilities for reservists and employers

Section 9 may apply: https://assets.publishing.service.g...sistance_for_employers-FINAL-3-Feb-2017-1.pdf
 
#7
Thanks for the reply’s

I wouldn’t be doing it for the money believe me. I would have to take a pay cut as i currently work offshore on the rigs. The 2 on 2 off Rota wouldn’t give me the commitment needed.

My thinking is quit offshore for 6 months or so to get me through basic and then I could start working back offshore. In my time off I could spend as much time as possible with the reserves.

But I do have responsibility’s that I need to meet. I wouldn’t want to join knowing I couldn’t go on a tour due to this reason
 
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