Any accountants present (sole trader confusion)

self assesment its a piece of pee if you keep ya books uptodate you dont need an accountant the hmrc do 3 courses ive done two and am on the 3rd next month 1 is initial set up and tax, next is what is claimable and they will look at your individual business, and the other is self assesment, have allready done mine off on the course to check it but they went through it on the last one so im sure what ive done is fine.

gutted i cant claim for my training tho to get some tax back from last year , training prior to set up is no claimable but after in certain casses it is and my next test is claimable bonus lol

how long are the courses buddy :)

4 hours ish each contact your local chamber they should be able to point you in the right direction

In my book i have a list of "expenses incurred prior to commencement of trade" as i bought my van and most my equipment while i was employed so when i threw in the towel i the bare essentials to get going.
And you can include them,i did last year for a seperate business and will be doing so when i do the new businesses return for january 11-april 11
In regards to using your home etc,i claim £7 a week for home as office and £9 for laundry,i was advised this by an accountant btw

VAT thresehold is £73K

Expenses incurred before the business started as linky from Nova00 - all I would say is make sure you have receipts to back up all of this incase they start asking questions.

HTH

P.S. You don't need to speak to an accountant per se. An experienced book keeper will know what's what I'd imagine.

Quote:

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Originally Posted by Andy_L

VAT thresehold is £73K

Expenses incurred before the business started as linky from Nova00 - all I would say is make sure you have receipts to back up all of this incase they start asking questions.

HTH

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Tbh,even if you dont,the amount in most cases is hardly worth a mention,i have receipts for all mine except my van (lost it somewhere) which was an ebay purchase so could print the details from there in any case

tax is for putting posters up imo