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 Post subject: Tax returns.
PostPosted: Thu Apr 17, 2008 20:44 
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Joined: 30th Mar, 2008
Posts: 14158
Location: Shropshire, UK
I don't have to do this until September apparently, but now that it's the end of the tax year I want to start thinking about what I'm supposed to be doing here. I'm sure there's some accountancy style bods on here that can help in exchange for a pint or two ;)

Here's my situation:

From July last year to the start of April this year, I worked full-time (37.5 hrs) as a paid employee of the company I've been working for, as well as self-employed (in my own time) working for lots of other people.

From the start of April, I've been working part time at the old place (3 days a week) and part time at another place, although my time at the other place is (for now, at least) still under my self-employment. I'm also continuing to do the self employment work outside of normal work hours too.

I've been keeping track of all my income from the self-employment side of things, and can do VAT returns and national insurance stuff no problem.

The approaching tax return scares me however. Naturally I want to pay as little tax as possible, but I have absolutely no idea what I can claim against my profit to reduce the tax burden, and what I can't. Every page I come across is full of legal jargon, and all I want is a nice, simple straight answer about what I can claim.

When working out of hours, I work from home, in my lounge. My flat has a bedroom, a lounge, a kitchen and a bathroom. Can I therefore claim half my mortgage costs etc. out of the profit (as kitchens and bathrooms don't count) ? If so, what exactly CAN I claim for in this area, and what proof do I need?

The job I do two days a week, self-employed, is 30 miles away in Wrexham. Now I know that you can't claim for petrol used travelling to and from a place of work, but as it's self-employment could I claim for the petrol used because technically it's visiting a client?

If there are any accountants on here by the way who want a look at my books and can give me advice, I'm happy to entertain the notion as long as you're not too extortionate price wise! ;)

Ta.


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 Post subject: Re: Tax returns.
PostPosted: Thu Apr 17, 2008 20:48 
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Chinny chin chin

Joined: 30th Mar, 2008
Posts: 15695
GazChap wrote:
The job I do two days a week, self-employed, is 30 miles away in Wrexham. Now I know that you can't claim for petrol used travelling to and from a place of work, but as it's self-employment could I claim for the petrol used because technically it's visiting a client?


You can claim for milage for visiting any client, potential client or just going about your business.


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 Post subject: Re: Tax returns.
PostPosted: Thu Apr 17, 2008 21:16 

Joined: 30th Mar, 2008
Posts: 8679
Yes, if it's not your "official" place of work you can claim.


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 Post subject: Re: Tax returns.
PostPosted: Fri Apr 18, 2008 16:04 
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Board Mother

Joined: 6th Apr, 2008
Posts: 11357
Location: Mount Olympus
40p per mile unless it's changed. Got to do mine tonight or tomorrow. Best piece of advice? Register and do it online. Seriously, the website will only then ask you questions based on your previous answers and you won't get stuck worrying what you should fill in, works it out there and then too. :)

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 Post subject: Re: Tax returns.
PostPosted: Fri Apr 18, 2008 16:54 
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Joined: 30th Mar, 2008
Posts: 14158
Location: Shropshire, UK
40p per mile for the first 10,000 and 25p per mile thereafter, IIRC.


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 Post subject: Re: Tax returns.
PostPosted: Fri Apr 18, 2008 17:03 
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Board Mother

Joined: 6th Apr, 2008
Posts: 11357
Location: Mount Olympus
Ah, i don't do those many miles a year, so didn't know that.

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