[MNWC]

Hi
Does anybody "employ" their wife (nudge nudge wink wink)
and what are the benifits.

 

[Bjorn]

Sorry, what is it you are suggesting?

[Sir Squeaky]

I clicked on this because I thought it said "Enjoying your wife"

 

[MNWC]

Cmon guys you all know what i mean  : : :

[Mike_G]

If your wife does not work you can claim her tax allowance. I dont think she needs to work for you either to do it. Not 100% certain so dont take my word for it check it out first.

[Johnboyfree]

Hi,you may claim for youre wife,as long as she does work for you,if she doesnt physicaly work for you then no.If you state yes and you get Audited by the Inland Revenue you will have to explain to them what she does,you cant say paper work and claim the full relief for her because Proffesional Accountants dont charge that kind of money and they will deem it as you are trying to make a false claim,...then the trouble starts...go on to the Inland Revenue Web site,they will explain it.

[Moderator David@stives]

In fact you have to prove the transaction has been made, as in proof of payment to your wife .

[windows_chepstow]

In fact you have to prove the transaction has been made, as in proof of payment to your wife .

I wasn't aware of that, but that would be easy to knock up.  Just get her to sign some receipts showing that she received the money as cash!

[Moderator David@stives]

technicly you need a cash book to show the cash in hand and where that cash goes.

Say you recieve £300 you have to show ie £100 paid to wife £20 petrol and where the other £180 went, wether that be your pocket or the bank you have to show where all cash goes.

Not many do but that is the rules for cash busnesses

[windows_chepstow]

Dave,

What you say makes complete sense, but I think for a simple account like window cleaning it would be a bit of an overkill and we can always plead ignorance, since what you're basically saying is that we should be doing 'double-entry book keeping' (one side for cash, the other for bank; anotating running costs in red; etc).

The way I do my books is that I account for what I've cleaned; not what I've received in cash.

Say for example, I earn 100 quid, but only receive 30 quid, I put in my books that I've taken 100 pounds (regardless of it being cash, cheque or not yet received).

The money always comes in, apart from an odd exception, and for that I write a short note explaining the 'bad debt' and use that as a tax deductable expense.

This may not be the correct way, but I wouldn't be too worried if a tax inspector looked at my books.

I would be worried if he looked under my matteress though!

[Moderator David@stives]

Tosh

Every year i start keeping separate totals for cash and cheques and what is paid out with cash or cheque and keep a running total of cash in hand by time September comes it is in complete Chaos and all goes out of the window.

If George offered this feature i could keep up with it but unfortunately i asked the makers to write this into the program 2 years ago and they said it is in the development pipeline.

Maybe Neil 100 could shed more light on this particular matter, my accountant keeps ticking me off for messing up , but it is so hard to keep on top of.

Dave

[EasyClean]

Tosh

Every year i start keeping separate totals for cash and cheques and what is paid out with cash or cheque and keep a running total of cash in hand by time September comes it is in complete Chaos and all goes out of the window.

If George offered this feature i could keep up with it but unfortunately i asked the makers to write this into the program 2 years ago and they said it is in the development pipeline.

This message is for Dave St Ives:

Have a review of the window cleaning program: 'Window Cleaner Pro' on www.windowcleanerpro.com as this allows you to show all payments from customers as cash, cheques, etc. It also totals and prints your accounts out as cash, cheque, etc payments daily, weekly, monthly or annually for the tax man. I've been using it for 2 weeks now and I find it as useful as 'George'. It cost £97 but you can download a trial program for 15 days with no commitment to buy if you don't like it!

Maybe Neil 100 could shed more light on this particular matter, my accountant keeps ticking me off for messing up , but it is so hard to keep on top of.

Dave

[thewindowcleaner1]

The way I do my books is that I account for what I've cleaned; not what I've received in cash.

I do the opposite, Enter what I,ve collected as TAKINGS, then note what is paid by cash and what is banked,

Basically I use M S Money nice and flexiable and produces all the report you need at end of year..

My problem is that origanally I started my tax year in september so the returns relating to the last tax year finnished last September, on the up side I,ve now completed my returns due for April 2007

[thewindowcleaner1]

Also As for employing your missus< I recently went to a meeting for Foster Carers where a Tax inspector was speaking and he basically said if your wife/partner helps you with anything to do with the bussiness then claim.

[craig jwc]

Inland Revenue told me that i just have to put down what i have earn't for the week, not actually the money i have received and banked.
They said it didn't matter if i was paid by cash or Cheque it all counts as money so didn't have to write down what was cash and what was cheque.

So all i do is write down what i have earn't for the week and what i have spent out.
I also claim using the 40p a mile so keep a record of my mileage.

This is all the Inland Revenue told me i had to do.

Craig

[windows_chepstow]

Inland Revenue told me that i just have to put down what i have earn't for the week, not actually the money i have received and banked.
They said it didn't matter if i was paid by cash or Cheque it all counts as money so didn't have to write down what was cash and what was cheque.

So all i do is write down what i have earn't for the week and what i have spent out.
I also claim using the 40p a mile so keep a record of my mileage.

This is all the Inland Revenue told me i had to do.

Craig

This sounds very like the way I account for my business.  At the end of the day, the Tax Man is only interested in your turnover and expenses; so he can tax you on the bit in-between.

Keep it Simple!

[craig jwc]

Simple enough to keep - just have trouble remembering which box to put the figures in on the tax return

[windows_chepstow]

Simple enough to keep - just have trouble remembering which box to put the figures in on the tax return

Keep copies of your previous return; it helps.

[windows_chepstow]

Hi
Does anybody "employ" their wife (nudge nudge wink wink)
and what are the benifits.

 

I employ mine, she does work with me and I use her tax allowance, but I know the way I've been doing it isn't the correct way; but luckily enough I've not been investigated...  yet.

And if I was, I'd plead ignorance (I'm a Geordie - they'd believe me) and I'm sure it'd work out okay in the end; hopefully.

So sorry I can't help; I need to get my own house in order first.

[Moderator David@stives]

It doesnt matter if you list takings or earnings as long you are consistent, i submit both to my accountant

Easyclean

I have considered the other program , but i am heavily into George and have not got time to change at the moment, If I had an import programme that would be good.

The bigger your business becomes then it is more important to differentiate between cash and cheques, where Philip Hanson (Ex accountant) when you need him