Ads

Collapse

Announcement

Collapse
No announcement yet.

Ow no Tax returns...

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Ow no Tax returns...

    .... hands up all who got their tax returns today. Do the buggers at the Inland Revenue not take Easter holidays then.

    I can't make head nor tail of it, I will need to get a harvard lawyer to take a look at it.

    Bowed Over
    Handmade Dog Collar Accessories
    www.bowedover.co.uk

  • #2
    They do look a bit scarey but if your just a small business there should only be a bit to fill in. If you get an accountant to do it for you it doesn't have to be submitted untill 31 January 2007, otherwise if you do it yourself it's the end of september. Luckly i work for a firm of accountants so i'm going to get my boss to sign off my accounts and to check over my tax return. He's really good as he'll make sure i pay minimum tax possible.
    Emma
    Luxury craft supplies & magnolia Stamps - Sassy Crafts
    Sassy Crafts Blog
    My Blog

    Comment


    • #3
      I got mine today too. As I'm stuffed full of the cold, I decided not to look at it too closely. Hopefully, once I sit down and read it properly, it wont be bad.

      Never mind, I'm sure we'll all help each other out on here.

      Carol
      Sparklez.co.uk
      Handmade Jewellery

      Comment


      • #4
        I had a read through last night and think I have the rough idea of what needs to get done but I will give the Inland Revenue a call today to go through it.

        My husband is self employed and he gets his account to do this but I can't afford to pay for an accountant (particularly with the crap craft fairs I have been at the past few weeks) think the IRH will owe me!! He is the teller of doom though - learing over me going if you get this wrong you will get penalised!!!! He is driving me nuts!!!!


        Lisa

        Bowed Over
        Handmade Dog Collar Accessories
        www.bowedover.co.uk

        Comment


        • #5
          Eek!!Good luck, those forms are something Im not looking forward to but I cant allow these things to put me off.
          https://folksy.com/shops/GrimmExhibition


          http://poisonedapplecraftuk.blogspot.co.uk/

          Poisoned Apple Theatre - Handmade Crafts on Facebook

          Comment


          • #6
            just got myfirst tax return too, CONFUSING!!! Trying to get my books in order too which is a nightmare, hope accountant can figure it all out, but i suppose that is what i'm paying him for, and don't they cost a fortune, but hopefully it will be worth it.
            www.craftyaddicts.co.uk
            for all your cardmaking and scrapbooking needs!!
            www.craftyaddict.wordpress.com
            craftyaddicts blog site
            www.heatherbees.blogspot.com
            My personal blog
            http://twitter.com/craftyaddicts

            Comment


            • #7
              I hate tax returns. I find myself checking the figures over and over again, terrified that I might do something wrong! I do ours online so i don't have to look at that big booklet they send out! I have promised myself that i'll get an accountant to do it next year!
              www.purethoughts.co.uk
              Natural soaps and skincare, handmade from beginning to end...

              Pure Thoughts Newsletter - Free samples for 50 new subscribers every month

              Comment


              • #8
                Got mine too and its my first, it looks a little daunting but I am going to have a read and try and do it myself, fingers crossed!!!
                Maz

                Preserving yesterdays memories for Tomorrow at www.willow-crafts.com

                Comment


                • #9
                  I am still puzzling over my tax return! Ignored it for a good few weeks then decided I should have a nose.....

                  I am sooooo confused! Thought it would be dead easy but, alas I am not as bright as I thought. Just registered to complete it on-line as I was told it was much easier this way. I can't be bothered trying to calculate things like use of a room, broadband charges, etc, I just wanna list what I've spent and what I've made!

                  Sad thing is I work for the Inland Revenue so I thought I'd understand it at least! More fool me

                  Ali

                  Comment


                  • #10
                    What we do in the accountants is put £10 per week for use of room which works out as £520 per year. It's worth adding on.
                    Emma
                    Luxury craft supplies & magnolia Stamps - Sassy Crafts
                    Sassy Crafts Blog
                    My Blog

                    Comment


                    • #11
                      I wouldn't advise claiming for broadband - it's charged at a flat rate, so doesn't cost you any more because you are in business, therefore no extra cost.

                      They are fairly simple to complete, but then I would say that as I complete about 100 every year at the day job

                      If you want any help, just email me, and I'll try to simplify the job for you.
                      Melanie


                      "When I talk about belief, why do you always assume I'm talking about God?" Serenity


                      http://www.myspace.com/kandmcreations
                      http://www.kandmbeadshop.co.uk/ | http://www.kandmcreations.co.uk/
                      http://kandmcom.etsy.com

                      Comment


                      • #12
                        I've done two so far, and I did them both online - it was so much simpler than the scary looking paperwork. If you fill out one answer, it automatically re-directs you to the next relevant bit, instead of having to work out "go to section 3a on page 59" in the booklet !

                        I keep electronic records to prove my figures in case they ever ask to see the accounts.
                        Blog Website Flickr

                        Comment


                        • #13
                          Originally posted by mjbelkin View Post
                          I wouldn't advise claiming for broadband - it's charged at a flat rate, so doesn't cost you any more because you are in business, therefore no extra cost.
                          There is a big difference between being a part time self employed (working full time and being employed) vs full time self employed..

                          I claim my broadband or a % of it as its main role is for the business and not for personal stuff..

                          Same with mobiles, landlines etc... u need to respect how much you use something for your business... Assets like stock and cars are a good thing to look at offsetting.. Depreciation of cars is one area I learnt about from my accountant..
                          .


                          Promote your craft site today : Add Your CRAFTS
                          (£5.50 a month or £50 per year)

                          Fun new blog: Snowboard Stuff

                          Comment


                          • #14
                            Originally posted by 0103media View Post
                            There is a big difference between being a part time self employed (working full time and being employed) vs full time self employed..
                            Yes I know, we have all sorts of clients - Limited companies, plcs, self-employed, partnerships.

                            And we also discuss a lot of things with the Revenue, and broadband is one of them. But you can claim a percentage of all motor costs, telephone bills, utilities, etc. What you are claiming is the extra it costs you because you are operating a business from home. There is no extra with broadband.

                            Trust me, accountancy is my day job, so I really do know what I'm talking about, and I work for a small firm, so I get to do quite a variety of different jobs.
                            Melanie


                            "When I talk about belief, why do you always assume I'm talking about God?" Serenity


                            http://www.myspace.com/kandmcreations
                            http://www.kandmbeadshop.co.uk/ | http://www.kandmcreations.co.uk/
                            http://kandmcom.etsy.com

                            Comment


                            • #15
                              Originally posted by mjbelkin View Post
                              There is no extra with broadband.
                              I don't understand ?
                              No extra ?

                              Bussiness broadband can not go against tax ? Its that what your saying ?
                              .


                              Promote your craft site today : Add Your CRAFTS
                              (£5.50 a month or £50 per year)

                              Fun new blog: Snowboard Stuff

                              Comment

                              Working...
                              X