Very low tax earnt...

steveOooo

just doing my self !!!. form - in 2007/2008 ive only earnt £2300 which is way below the 4k threshold. This is even before doing any deductions for expenses, tools etc...

Do i even need to bother saying how much expensive i have? Shall i just put a rough ball point figure in?

Also can i have travel, rented property as part of my expenditure?

fengirl_2

You must make an accurate return which shows all your trading income and expenditure. You include all your expenses, so if travel and use of a room at home is involved, these go in. HMRC compares trading profits from one year to the next, so this year's results will have to bear comparison to next year's.

steveOooo

would i put in food costs? ie money spent on food at lunch time?

Actually, the rented room will come into next years as i started a job in london from april 15th-ish.

i think ill be around 1000-1500 after travel!

harryhound

The basic rule is that we all have to eat, so that is not tax allowable.
BUT Lorry drivers, but not white van drivers, have negotiated a figure that might be enough for a fry-up in a greasy spoon caf.

If you explain better what your self employed business is, we might be able to explain better.

Tax is NOT logical it is just an ever growing list of arbitrary rules made by governments trying to pluck the goose and get the most feathers with the least squarking.

limotek

steveOooo wrote: »

would i put in food costs? ie money spent on food at lunch time?

Actually, the rented room will come into next years as i started a job in london from april 15th-ish.

i think ill be around 1000-1500 after travel!

Mate your going all the way with this, what type of business are you in?:cool:

steveOooo

in 2007-2008 i was video editing for a web broadcaster, i had to travel from Southampton to london quite alot so have included about £300 worth or travel!
ive only stuck a couple of lunch receipts - too hard to tell if they were for lunch etc... or norm shopping.
I also bough a new computer, bit of software etc.. which ive added on.
In 2008-2009 i worked in london - had to re-locate but it was a temp job
think it was 9 weeks? should i calculate how much rent i payed for this period? ie approx £700 or should i leave it?

My self employed turner over for 08-09 will be below the 4k threshold but i have been doing some paye work... i guess thats included in my self !!!. return so maybe i should try and milk as many receipts as pos?

steveOooo

wahoo done it! have a grand total off £0.00 to pay back

sweeeeet!

as soon as closed the HM page my last fm.com page started playing having stopped for ages for some weird reason whilst doing the return - a quite, bleak time... viola-- Lionel Ritchie 'All Night Long',

jennifernil

Sounds to me like you are trying to claim an awful lot of expenses! You have to live somewhere after all.

And can you really claim for a whole new computer?

I don't think you should talk about "milking the system", think about the feelings of those on PAYE (of which I am NOT one)

steveOooo

no the new com and other equipment theve decided to vaue that as £56-ish - off.
ive said ill use it for private use as well.
The rented room, i think yes its prob best to leave that.