On The Books But Been Asked To Do Self Assessment!!!?

[Adam W]

I've worked through an umbrella company who allowed for all sorts of expenses like laundry (over about £2.50 a week and you had to provide a receipt or name of launderette), meals at work, phone calls, 40p per mile etc, but last year the lady in the tax office said you couldn't claim for laundry or meals.
Basically you can earn £6475 each year before you have to start paying tax; the idea is you have to show you haven't earned much more than that. Personally i couldn't be bothered keeping a log of all the mileage so just kept a load of petrol receipts which she said was ok.

Like I said the best thing to do is to keep all your receipts and that, probably for 10 years if possible, then if they want to query your tax return you can show them where you've got all your figures from; i don't see there's much they can do other than charge you backdated tax if you've made an honest mistake.

 

[sparky1502]

u cant under estimate the benefit of good book keeping anything u buy that is business related any expenses for your car u can claim against your tax bill but if u have a car u only claim back a percentage of the running costs but with a van you can claim back 100 percent
Also with tools you can claim a percentage back as these every year so the first year u by the tools u can claim say 70% then the next year for the same tools you claim 40% then it stays at 40% then good luck with it anyway

 

[egginyourface]

how do you know that u can can claim 100% fror van, 70% for tools etc

can you recommend a book or web site that advises you on all this?

 

[VoltzElectrical]

The tax rules governing capital expenditure have changed so that the write down of a percentage value of tools etc.. is no longer applicable. You can now claim the full 100% in the tax year of the purchase (up to a certain very high amount that I can't remember). If you use your car for work, you can claim 40p per mile up to 10.000 miles, then 25p thereafter. Mileage starts again after April 5. I can't advise claims when you are employed. My advise is get a good accountant. They don't cost £500 a year. mine does a full tax return for just over £200. i got nearly 3 and half grand back last year. All completely legitimate.

Actually the inland revenue are very helpful, and have lots of information on their website.

And then there is always the internet.

good luck.

 

[sparky1502]

i suppose the best way to learn is to have a go yourself you can arrange an interview with your local tax ffice who will help and advise with any questions

 

[grantr37]

I worked beside a boy a couple of years ago and he was given a Red basic model Ford Focus 1.4 petrol "granny motor" and the taxman took 40 pounds a week off him for "benefit in kind" Tax, this is where they take money from you based on what they think perks and bonuses are, well it had a tracker on it and a very over zelous group of office staff sitting in an office down south watched attentively every move of every fleet vehicle, to the extent they would phone up people on their mobile and ask them why they were sitting outside Pizza Hut at half past five, the boys with vans and cars were told that they were not allowed to drive the vans after 6PM PERIOD, they said it was about the insurance the company had and also company policy, so theres a bunch of guys with company vans with logo on, no tax, not allowed to drive after 6pm, okey dokey, then theres the guys who had little biscuit tin cars issued, not allowed to drive after 6pm or on weekends but the tax man took it as a company car, all he seen was the wording "company car" thatl be 40 quid a week peeps...some people even got to the extent that they were being pulled over the coals for doing overtime, finishing at 7Pm and driving home only to get turned upside down and shaken by the company accountants who issued "fines" of 80 pounds for breaching this rule, ended up that a lot of guys left the vans in the building site rubble-clad carpark overnight and used it only at tea times.
Anyway the lad with the focus drove over a bump on the dirt track up to the site, pranged the engine and burst open the oil sump, written off engine and was issued a rental SAAB, top of the range about 50 grand worth of leather interior and chrome, no tracker whatsoever and fully comp hire company insurance......Result..... Happy days

 

[Deleted member 26818]

When I do my self assessment:
I claim for mobile phone, computer and internet access, laundry £10.50 a week and clothing, tools and batteries and then milage, which either I make a note of the actual milage, or use a route planner such as Tom Tom or windows Autoroute.
I used to claim in full for hand tools that cost less than £100 and anything else was put into a pool where I could only claim a percentage. This has as been stated changed, and we are now allowed to claim the whole expense up to £50,000.
If my work entails staying away from home over night, then I claim subsistance. I claim this even when I ocasionally work night shifts, as I am still away from home overnight.
When I was married, and my wife had a couple of dogs, I started a dog breeding business which meant that all expenses relating to the dogs, such as food, vet bills and kennels were tax deductable.
I only wish I could have thought of a way to claim for the horses.