Tax return due, some advice please

[kirkgas]

I'm self employed and did mine online yesterday.

I made a loss in my first year but it was simple to do.

You are right these days, plenty people find it easy to make a loss :-(

 

[kirkgas]

Ok thanks I think I get it now.

I'm not expecting to be 'rewarded', if i get anything back it will be a bonus.

I'm more concerned with doing things the right way and not getting in trouble.

I work for a company on a self employed basis and they pay the tax - is that normal?

It depends on the company policy, I'm self employed and do some work in two different colleges, both tax me at source every month, it's their policy although my accountant suggested it wasn't the best way for me, but to be honest if they didn't take it at source I would put it away anyway, but at the end of the year he does my accounts and I claim £0.40 per mile which comes off my taxable portion, can't remember what else he claims for me, don't care I just sign the forms haha, that's what he gets paid for, but I got rebates totalling about £4k the other month, plus the benefits back from taking dividends from our family business rather than wages etc

 

[armyash]

I have kept all my receipts for phone costs, tools, uniform etc. Hopefully it's clear the other expenses I can put down.

I will keep a diary for this next tax year and keep a note of everything coming in and out which will make things easier to calculate for the next self assessment. Something I should have been doing this year but didnt cross my mind but now i know.

 

[stevetheplumber]

personally i would use an accountant they will find much more than you will to set against tax

 

[armyash]

personally i would use an accountant they will find much more than you will to set against tax

now i'm thinking that might be the best thing to do! I will attempt it myself but if i'm missing too much I will just pass it over to an accountant before i submit it.

Thanks