Why did i bother?

[wet string]

Is the question i am asking myself, no wonder the country is in the crapper!
4 yrs ago i put 20k of my hard earned savings into starting up as a sole trader, just at the wrong time, as the recession hit, for 3years i hardly made a penny as i established a client base, and had to subsidise my living costs again from my by now meager savings, last year i finally made a profit, modest about 14k, but a profit.
accountant meeting today, it seems to pay my 20k back to myself i have to pay tax on it, plus pay in advance in case i make a similar profit next year. all in all, if i had stayed employed i would be 40k up todate.:whatchutalkingabout

 

[alanl]

Of course you have to pay tax on it.
You would have claimed tax relief on any spending in the 1st 4 years, so in effect you are just getting back what you have put in, with the Government funding the 20% difference for 4 years.