Clean It Up
UK Window Cleaning Forum => Window Cleaning Forum => Topic started by: no way Jose on July 09, 2015, 10:10:18 am
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hi guys
I would really appreciate some advice here.
I've been a self employed window cleaner for just 2 years.
I'm earning about: £15.000 a year.
I've just had a meeting with an accountant , to use his services would cost me £300 ( including vat)
I did some research and talk to a few self employed guys who told me what to watch out for and what expenses linked to the business you can claim back.
My question is : would you say it's worth paying £300 for an accountant or should I just do it myself ? I understand for a bigger business turning over say £20.000 or more a year it might be worth the money but would it be for me?
many thanks for any help
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The tax man runs business courses contact them and do it yourself until you earn more money. AS it is you are only taxed on 15 grand so you should be able to find a couple of grand expenses to deduct.
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At £15k by the time u buy expenses u shouldn't be paying a penny
There is easy 4k that could be found an that would take u out of any tax bracket and into tax credits of some sort.
If an accountant is guna cost u £300 he will or should be able to get rid of it no probs.
Do u intend to take more work on over the years.......
Q. If during the working day u have to make a packed lunch and then afterward need to nip home for a number 2 💩, !
Who pays for the dinner and the toilet roll u used, the water that flushed it away ??
It's all expenses mate
Accountants are like window cleaners, there are some brilliant ones and there's some not so good ones
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If you get a good accountant, they will know the ins and outs of everyone were as if you try and learn it in a course, you may make a bigger mess of it - you may not - but me personally have had accountants who are more then happy to take my money and not advise properly, finally I have found a decent one 👍
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Get a accountant . Saves you time and hassles
The £300 cost they will earn you that in saved taxes .
Sounds a lot , but they will help you
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if you TURN OVER £15.000, take of personal allowance £10.000??, less expenses, they probably owe you
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At £15k by the time u buy expenses u shouldn't be paying a penny
There is easy 4k that could be found an that would take u out of any tax bracket and into tax credits of some sort.
If an accountant is guna cost u £300 he will or should be able to get rid of it no probs.
Do u intend to take more work on over the years.......
Q. If during the working day u have to make a packed lunch and then afterward need to nip home for a number 2 💩, !
Who pays for the dinner and the toilet roll u used, the water that flushed it away ??
It's all expenses mate
Accountants are like window cleaners, there are some brilliant ones and there's some not so good ones
It has to be for earning purposes only, so you will have to prove that you wouldn't have needed the diner or the number 2
if you hadn't been working.
Same goes for fuel or anything else you claim for, if you run the kids to school in your work vehicle and don't allow for this in your expenses claim then your breaking the law.
Its not hard to do your own expenses/ tax returns and to be honest you would need to be bad to be more than £300 out
on the deal with your earnings/ turnover.
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As a part-time sole trader, (I also have another PAYE job), I do all my own accounts. Most of what you can claim is on the HMRC website. If I have any questions there is a business advice & support service run by the local county council who are happy to answer any queries.
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hi guys
I would really appreciate some advice here.
I've been a self employed window cleaner for just 2 years.
I'm earning about: £15.000 a year.
I've just had a meeting with an accountant , to use his services would cost me £300 ( including vat)
I did some research and talk to a few self employed guys who told me what to watch out for and what expenses linked to the business you can claim back.
My question is : would you say it's worth paying £300 for an accountant or should I just do it myself ? I understand for a bigger business turning over say £20.000 or more a year it might be worth the money but would it be for me?
many thanks for any help
Is that £15k turnover?
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hi guys
I would really appreciate some advice here.
I've been a self employed window cleaner for just 2 years.
I'm earning about: £15.000 a year.
I've just had a meeting with an accountant , to use his services would cost me £300 ( including vat)
I did some research and talk to a few self employed guys who told me what to watch out for and what expenses linked to the business you can claim back.
My question is : would you say it's worth paying £300 for an accountant or should I just do it myself ? I understand for a bigger business turning over say £20.000 or more a year it might be worth the money but would it be for me?
many thanks for any help
Is that £15k turnover?
Earnings turnover, they are just two words that mean the same thing, its what you get before you deduct your expenses.
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hi guys
I would really appreciate some advice here.
I've been a self employed window cleaner for just 2 years.
I'm earning about: £15.000 a year.
I've just had a meeting with an accountant , to use his services would cost me £300 ( including vat)
I did some research and talk to a few self employed guys who told me what to watch out for and what expenses linked to the business you can claim back.
My question is : would you say it's worth paying £300 for an accountant or should I just do it myself ? I understand for a bigger business turning over say £20.000 or more a year it might be worth the money but would it be for me?
many thanks for any help
Is that £15k turnover?
Earnings turnover, they are just two words that mean the same thing, its what you get before you deduct your expenses.
They are different. Earnings is profit. Turnover is sales.
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This may have changed so you will need to check it:
Quite a few years ago, a small business that was turning over £15k or less did not have to submit detailed accounts. All they had to submit was: Turnover and expenses totals. e.g. Turnover £14,727. Expenses £4,805. If you're still allowed to do this and decide to do it this way, I suggest that you still keep a record of your income details and expenses receipts for the last 7 years (6 years plus the one you're currently working) - just in case they decide to check you out.
EDIT: Also be aware that there may be a class 2 NI liability (class 4 unlikely at that profit level but check anyway as I'm not an accountant).