hushpower Posted January 17, 2015 Report Share Posted January 17, 2015 Hi you clever people,does any body know whats the percentage of exspenses you set against turnover, fuel etc,Thanks in advance. Has i am doing my books at the moment. Quote Link to comment Share on other sites More sharing options...
cuffy Posted January 17, 2015 Report Share Posted January 17, 2015 Get an accountant . If you get it wrong the taxman will screw you . Quote Link to comment Share on other sites More sharing options...
Lloyd90 Posted January 17, 2015 Report Share Posted January 17, 2015 I think my accountant charged me something like 70 ish quid to do all mine n in had about 2k back. Well worth it. Can do it yourself but **** it up and they want everything! Quote Link to comment Share on other sites More sharing options...
MartynGT4 Posted January 17, 2015 Report Share Posted January 17, 2015 Definitely get an accountant, you may well end up paying less tax than you thought you'd have to. I think my accountant charged me something like 70 ish quid to do all mine n in had about 2k back. Well worth it.Can do it yourself but **** it up and they want everything! +1 Quote Link to comment Share on other sites More sharing options...
Chris Bb Posted January 17, 2015 Report Share Posted January 17, 2015 As above, always. If "they" get it from an accountant they tend to believe it, if "they" get it from you they're more likely to ask questions. Largely because accountants know what can be claimed realistically. Having said that, I think you're too late now and all returns have to be made direct by end of month, however I do stand to be corrected. Personally, I always submit as early as possible, it gets it out of the way and I know what I owe. Quote Link to comment Share on other sites More sharing options...
Thunderbird Posted January 17, 2015 Report Share Posted January 17, 2015 Alternatively you could simply claim your genuine business expenses (for which you have receipts) and forget about percentages. However like others have said, an accountant is likely to save you more than they will cost you. Quote Link to comment Share on other sites More sharing options...
Glenshooter Posted January 17, 2015 Report Share Posted January 17, 2015 However like others have said, an accountant is likely to save you more than they will cost you. Yep. Only thing to add is get a good accountant. Easier (for me to say) said than done. My experience with accountants in general has been far from positive yet still expensive. Quote Link to comment Share on other sites More sharing options...
onatangent Posted January 17, 2015 Report Share Posted January 17, 2015 (edited) all the guidelines are on the hmrc website and a search engine away. I had to use an accountant while working abroad, mainly as my lingo didn't stretch that far. :-\ Edited January 17, 2015 by onatangent Quote Link to comment Share on other sites More sharing options...
islandgun Posted January 17, 2015 Report Share Posted January 17, 2015 you dont need an accountant KW will help you claw back a bit of your hard earned Quote Link to comment Share on other sites More sharing options...
figgy Posted January 17, 2015 Report Share Posted January 17, 2015 (edited) My wife done mine for years then spoke to an accountant who mentioned he does loads of self employed tax returns bandied the figure of £70-80 as the norm. Thought ok save me some more tax, wife passed it all over to him all done barring checking it and submitting it. Got only half the amount I was expecting and got a nice bill for £750.00 from accountant. I argued with him and got it down to £500.00 never again. Asked why I got less than what my wife did, his answer was I don't like to put too much in then they don't look at me. I was fuming. My wife does mine, you can phone and ask the tax office questions and they will answer them, very helpful but you can't ask what can and can't I claim for. They will only answer a direct question ie can I claim for computer, they will then answer that question in my experience. Nothing vague but direct. Some one on here will probably work in this field and answer you better. Edited January 17, 2015 by figgy Quote Link to comment Share on other sites More sharing options...
Scully Posted January 17, 2015 Report Share Posted January 17, 2015 Alternatively you could simply claim your genuine business expenses (for which you have receipts) and forget about percentages. This is what I do. Easy peasy. Quote Link to comment Share on other sites More sharing options...
RED BEARD Posted January 17, 2015 Report Share Posted January 17, 2015 I use an accountant, they know what you can claim for.in the time it would take me to sort it I could have earnt more than he charges me. Quote Link to comment Share on other sites More sharing options...
ColinF Posted January 17, 2015 Report Share Posted January 17, 2015 Alternatively you could simply claim your genuine business expenses (for which you have receipts) and forget about percentages. This is the right answer. Quote Link to comment Share on other sites More sharing options...
manthing Posted January 18, 2015 Report Share Posted January 18, 2015 Slightly different as I'm a Ltd company, but my accountant costs considerably more than the amounts mentioned and I still wouldn't be without him. It would cost me more in time than I have to pay him... Quote Link to comment Share on other sites More sharing options...
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