Clean It Up
UK Floor Cleaning Forum => Carpet Cleaning Forum => Topic started by: the red carpet on December 10, 2005, 01:49:51 pm
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hi all,
i have been carpet cleaning now for 4 months.
up untill now i have not sorted anything out regarding tax/self employment/accountant etc.
so seen as most of you will have done all this allready any advice on what i need to do and in what order would be apreciated.
i have kept records of what i have spent out and copys of all invoices for work iv done.
also i went to open a buisness bank account and they were asking me if i plan on being a sole trader or ltd company?
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Do it like yesterday!!
the first thing you need do do is register with the inland revenue , they will send you an intro pack on your next steps and dont worry they are not ogres!( the vat man ate them)
but seriously get things moving or youl find your self in a mess, if you need any more help the peeps on this forum will guide you.
chris ;)
(http://www.brummiespeedway.co.uk/phpBB2/images/avatars/gallery/3DAvatars1/20_10.jpg)
www.scsf.co.uk
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cheers chris.
just registered with them and there now sending me a £100 fine for being late you have to register within 3 months, also from reading there site i take it i should be a sole trader.
there sending me forms for the nationall insurance and i am opening up a buisness bank account monday-hsbc
apart from the accountant is there anything else i need to do?
also anyone know about this registering within 3 months thing, i didnt actually clean a carpet until 14th of september but i spent a few weeks before hand sorting out van equipment training etc does this count?
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You will only be classed as trading at the date of your first invoice. I would forget about an accountant at this stage. Do a simple spreadsheet, months along the top sales and costs down side and enter the amounts for each month. This is adequate at the early stages. You then deduct your expenses from your sales to give you your gross profit. With these figures and your tax return form, go to your local tax office and they will help you, they are very helpfull.
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Red Carpet
you have mail
(http://www.brummiespeedway.co.uk/phpBB2/images/avatars/gallery/3DAvatars1/20_10.jpg)
chris
www.scsf.co.uk
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When sombody registers as Self Employed and then the Tax Office fines them £100 for being honest when it is apparent no major avoidance has occured, just gets the Tax Authorities a bad name.
If you cant talk your way out of the fine contact your MP.
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I think you will find they will waiver the fine after he has sent of his forms.
chris
www.scsf.co.uk
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I would advise you find a good accountant and let him sort it all out for you. Althought they are expensive they actually only cost about a £1.00 or so per day. This will let you get on with what you do best cleaning carpets. I have been at it 9 years now and just gone through a tax investigation although they were happy with my accounting it was worth it to have the backing and experience of a proffesional.
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got a dodgey accountant..just keep all my receipts and an accounts book, and fill it in every 2 weeks..accountant does the rest...easy peasy...and it's ok to have a bad memory when it comes to cash jobs...he said ;D
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got a dodgey accountant..just keep all my receipts and an accounts book, and fill it in every 2 weeks..accountant does the rest...easy peasy...and it's ok to have a bad memory when it comes to cash jobs...he said ;D
well done youve just told over 7,220 members you have a dodgy accountant..mmmm
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as most accountants are dodgey...in a sense..dont think it matters ;D
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buy sage instant accounts, you can get it for £100, I have a tutorial disc you can borrow if you want. To be honest if you keep it simple, its easy. the best thing is it takes 5 mins to run and check your end of year accounts.
ben
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Sage is a good package the same as I now use, I used to use Clearly buisness / quick books which is an easier package but not as good imo, get you accountant to teach you how too do your own books and your bank to teach you how to use your program (I find Nat west buissness great and hay you pay them so they can teach you) and bang away you go no more accountant, program even files my tax / vat return, (why did I ever go VAT rege ??? >:()
James
PS the good accountants are the dodgy ones as they will save you the most money ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D
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Find yourself an accountant that you feel you can get on with. If you feel uncomfortable with him before you 'sign on' find another.
Then ask what system he reccomends so that you use the same on. Mine uses sage an gives a good discount if you buy from him. He then puts your backup disc in his system and half the work is done. Saves me twice the original cost of Sage per Year.
Happy Christmas.
Trevor