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**MSE Martin** · 12-09-2005, 6:51 PM

Insert
This thread is now closed, stay tuned for the article!

30 September is the last day to send in your self-assessment paper form and be 'guaranteed' the Inland Revenue will calculate your tax for you, ready for payment on 31 January. Tax Accountant Tony Tesciuba, (who also happens to be my Uncle) has offered to answer your basic tax queries in the Chat Forum over the next few days.

Why's he doing this?
First because I asked him to, and he's a site user, and second because I promised if he does I'd put a link to his site www.tesciuba.com in here!

Where else to get help?
If you're looking just for form filling help for the self-assessment form, then just call the Inland Revenue Hotline on 0845 9000444.

IMPORTANT! What to ask about?
Any basic tax questions about small biz or personal tax. Obviously if it's hugely complex then it can't be done. Also don't put any bank account/overly personal details in your question as it can be read by all.

As general guidance questions should be no more than a paragraph long.

How long will Tony be doing this for?
All questions should be asked by the end of play on Sunday night. At that point this thread will be closed.

When will I get the answer?
What we'll then do is compile all the questions together into one Q&A article, published (as long as there aren't too many questions!) as soon as possible, probably a week or so from the closing date.

TO ASK A QUESTION SIMPLY CLICK REPLY.
PLEASE ONLY PUT QUESTIONS NOT COMMENTS IN THIS THREAD

1julieeiluj1 · 15-09-2005, 4:19 PM

Hi, where do I get the form from then?

ljhhuk · 15-09-2005, 4:31 PM

Hello

I run my own small business from home which is in the tourist industry. After 9/11 my business went downhill because americans stopped travelling to this country and in 2004 I got a part time job with marks and spencer.
My business is pickin up now but how would you advise me to declare my income?
Should I give my part time job as my main income or my small business? Wh

Rayg · 15-09-2005, 5:05 PM

HI
How is cash back from credit cards treated for tax purposes and also any incentives received from banks for opening a new account with them?
Ray

save-alot · 15-09-2005, 5:30 PM

If I made a loss in a Self Employed Part time business last year and had a tax refund due to this do I still carry the loss forward to this year and reduce it by this years income or is it finished.

vinylmusic · 15-09-2005, 6:43 PM

I drive for a taxi firm based 15 miles from home and most work I get is in just about every direction BUT home. I can work long hours from around 11am and into the night. Sometimes til 2 or 3am
The only way I can get to have a decent evening meal is to eat out.
What are the rules for claiming meals and snacks in my case?

aitchtee · 15-09-2005, 6:45 PM

In order to look after some houses we rent out, my wife and I bought a van during the 04/05 tax year for all the running about involved. There is no private use.
Can we capitalise the van and claim tax on all the running costs, or should we treat the van as personal property and claim 40p for each mile used?

Jill Roberts · 15-09-2005, 7:41 PM

Last year I took on a 2nd part time job because my main business was not providing enough income. I work self employed for both jobs - do I have to file separate returns for each or can I submit one set of accounts for both.

alanm333 · 15-09-2005, 10:50 PM

Hi
My wife has a low income part time job, earning about £4,000/yr. She also began making cakes from home in Feb 04 and has set it up as a small business. I do her accounts , most of her buying, and help make the cakes at times. To date, costs have outweighed income by about £4,000 although she hasn't paid herself a penny ( or me). As she doesn't pay income tax, I was wondering if we could consider the cake making as a partnership, and the loss be set aside the PAYE tax I pay from my main job as a Sales Representative? Thanks in advance.

shinyuk · 15-09-2005, 10:58 PM

I have a a buy2let property value £170K, mortgage £106K. If I increase the loan by 20K can I use it to payoff my residential mortgage or put into my pension pot and still claim tax relief on the additional loan? Incidentallyt the rental business would be making a loss.

Note I am also a fulltime employee on PAYE.

imported_johnf · 15-09-2005, 11:28 PM

I am setting up in Business in Jan 2006 as a Ltd Company, both my wife & I will be joint Directors and the only 2 employees. Our baby will be going into Nursery full time, what do we need to do/set up in order to claim the allowable childcare scheme which I believe is approx £50/each per week.

logicus · 16-09-2005, 12:21 AM

To Tony Tesciuba, I understand if a self employed sole trader starts up a company, the first £10k to £12k are tax free; is this worth it if you earn say £20k as sole trader?(also private pension pays £22K I am 56 years old.
Joe

yezdi · 16-09-2005, 12:40 AM

I am employed fulltime on PAYE. So far I have not filed my returns. I do make regular contributions to charity. I would like to claim back some tax as I am a high rate taxpayer. How can I go about doing this ? Do I need to file my returns.

Jutta · 16-09-2005, 7:18 AM

I'm part-time self-employed as a translator and therefore use the Internet (at home) a lot for work. Can I put the monthly provider charge against tax in my self-assessment, and would that have any other implications for my tax return? Many thanks.

mnel · 16-09-2005, 8:05 AM

My husband worked in Dubai for a year (6weeks there, 2 weeks home) and I would like to know how this affects his

tax calculation? i.e. does he pay tax on these earnings that are paid in Dubai?
Thanksyou

colyoung · 16-09-2005, 8:38 AM

Hi

I get a car allowance from my work of £5500 per annum which is taxed through my monthly pay statement. I also get 15p per mile for business travel. I am also able to claim tax relief on the milage at 40 - 15 =25p p/mile (40p is tax office recommended figure)

Thanks in advance

Stentorian · 16-09-2005, 8:38 AM

Hi Tony,

I do self assessment for simple self employment. I gift aid some money to charity, so the charity pick up the tax directly. I also pay into a personal pension that recoup the tax direct into the pension account.

Do I need to add this information onto my tax form, or can I ignore it as the tax has already been accounted for?

Thanks,
Ben

esk · 16-09-2005, 8:42 AM

Hi I have just started part time self employed, I have two other part time jobs totalling 18 hours a week. When do the IR consider the date you start trading? Would that be the day you get your first customer/payment or is it the day you begin to set up? I had my first clients in late july and as it is a holistic therapy business it is building very slowly, and I have taken only a couple of hundred pounds. Will i still have to get a tax return in by 30th sept. Because of my several jobs I can imagine it to be very complicated and I dont feel I can deal with it all while in the middle of trying to start the business.

esk · 16-09-2005, 8:45 AM

Separate question

)
I have been planning the set up of this business for some time and as I need a lot of equipment to start up and have no capital I have been buying stuff in for about two years and storing it ready to start. How do i go about claiming tax relief on this.I have reciepts for virtually everything but they will obviously have old dates on them?

Slim · 16-09-2005, 8:46 AM

About 10 to 15 years ago my 93 year old mother stopped sending in tax returns despite having some annual property rental income. Her records aren't in the best state but I'm attempting to work out for the last 5 years what her position is ie has she underpaid tax and by how much (she is registered blind so has this additional allowance). My question is how should I proceed once I have this information?
Many thanks for any advice.