Clean It Up
UK Window Cleaning Forum => Window Cleaning Forum => Topic started by: shammy davis jnr on October 10, 2007, 09:24:13 pm
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on my accounts i just right off debt of people i dont clean no more our who have not payed on time
how many are you allowed to right off for tax reasons
is there a capped amount ie 16 % our some thing but i know you are allowed releif on bad debt any boffins out there can help and i dont mean every one on here lol
;D ;D
im sure this would aid other people if some one knows the exact figures
yours shammy
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what do u guys do??
do u do the same
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I write off maybe 5-10 jobs a year.
Most only owe £7 or £8
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On your tax return in box number 3.41 is where you put your bad debts figure, there is no limit on this figure.
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Surely you would count it in both plus and minus columns or neither?
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Every time you clean a customers property, you class the charge as payment, even if you have not been paid, so at the end of the tax year you add this figure up and you put this down in box 3.29. This is you income for the year, even though you have not been paid for all of it.
If you look down on your tax return you will see a list of different expenses, on the left hand coloum is what you have paid out and on the right is what has come back into the business.
In box number 3.41 you put the figure for what you have not been paid, to the right is box number 3.59 this is for any bad debts from the previous tax year that you have been paid for this year.