Clean It Up

UK Window Cleaning Forum => Window Cleaning Forum => Topic started by: lee_dewing on December 22, 2023, 06:30:23 pm

Title: Self assessment
Post by: lee_dewing on December 22, 2023, 06:30:23 pm

Wonder how many of you sole traders do your own self assessment online ?

I’ve always used an accountant
But my current one maybe used For 18 years
Years is 77

When he finally decides he’s had enough
I’m thinking 🤔 of doing my own tax returns

What with round software keeping the score
and expenses listed too
Thinking maybe I could 🤔

I’ve watched a few YouTube videos

Thanks lee
I’ve finished now until next year 🎄❄️⛄️

Merry Christmas all
And happy new year 🥳

Title: Re: Self assessment
Post by: Stoots on December 22, 2023, 08:26:03 pm

I used to do mine before I went Ltd

Easy peasy

Title: Re: Self assessment
Post by: AuRavelling79 on December 22, 2023, 10:02:47 pm

My wife does mine. ( She is bookkeeper level not accountant level)

I'm self employed sole trader now but I have also employed one other. (I was a sole trader then too.)

Title: Re: Self assessment
Post by: lee_dewing on December 24, 2023, 07:26:42 pm

Thanks Guys
Merry Christmas 🎄🎄

Title: Re: Self assessment
Post by: JandS on December 25, 2023, 11:10:42 am

I do my own online......if you're a sole trader like me it's basically how much you earned vs how much you spent.......look up online what you can claim for......I use spreadsheets and do it all in one go in January.

Title: Re: Self assessment
Post by: lee_dewing on December 27, 2023, 08:56:22 am

Hello J and S
Thanks

I did watch a YouTube video
Bloke did online tax return in 15 minutes

I have got a large expense of a van to put down.
Is that claimed across several years? Would you know?


Any particular bloggers you recommend on YouTube regarding self assessment ?

Not asking about your figures
But as a percentage what would you say is a safe amount to put down as expenses 30%?

Don’t want to do anything illegal but want to claim what I can

Thanks lee 🎄🎁🥳

Title: Re: Self assessment
Post by: AuRavelling79 on December 27, 2023, 09:28:39 am

https://www.gov.uk/expenses-if-youre-self-employed

The above is helpful.

If you use traditional accounting (as in you count a transaction when you invoice a customer, not when you get paid) check that section and check out capital allowances.

Title: Re: Self assessment
Post by: Splash & dash on December 27, 2023, 04:37:48 pm

Quote from: lee_dewing on December 27, 2023, 08:56:22 am

Hello J and S
Thanks

I did watch a YouTube video
Bloke did online tax return in 15 minutes

I have got a large expense of a van to put down.
Is that claimed across several years? Would you know?


Any particular bloggers you recommend on YouTube regarding self assessment ?

Not asking about your figures
But as a percentage what would you say is a safe amount to put down as expenses 30%?

Don’t want to do anything illegal but want to claim what I can

Thanks lee 🎄🎁🥳

You can claim for the van all in one year if you do this you will probably pay no tax for that year or could possibly get a refund , but your payment on account for the next year will be a bit higher so make sure you have put some money aside for  that . I don’t think you will fill out a self assessment form in 15 muinits unless you have a tiny business.

Title: Re: Self assessment
Post by: johnny bravo on January 01, 2024, 02:11:09 pm

i used to do weekly takings etc   times and days worked.
now i have Starling account i just do monthly      income  -  outgoing     if hmrc are not happy with that  its not my fault .       Bank shows money in   &  money out + reciepts.

Title: Re: Self assessment
Post by: simon w on January 01, 2024, 04:04:51 pm

Just out of curiosity, what on average are you sole traders paying in tax twice yearly?   :)