please help finishing off my tax return

bargainhunter90

Hi I just wanted to check a few last things before finishing my tax return

I started self employment in oct 2008 and have bought things before then to start off and also use them for personal use so want to claim 25% of the costs but bought them starting in April 2007 is that ok?

Capital Expenses April 07 - March 08
Total = 444.33 AIA Claim 25% 111.08

April 08 - March 09 Nil

April 09 - March 2010 62.69 Claim 25% 15.67 +in full 235.19 = 250.86

Total capital AIA claim = 361.94

I also would like to know if I can claim 25% of my internet use and 3 pounds per week for use of home and running costs?

Internet 82.50 - 25% =20.63

3 pounds x 26 weeks = 69.00

thank you for your help

fengirl_2

if you started in Oct 08, your first year of assessment is 08-09, so I dont understand why you have made a capital allowances claim for 07-08. Also, you can't make a claim for 09-10 until you self assess for this year.
Internet - you include whatever proportion you consider appropriate.
Use of home - its usual to use a proportion of your household running costs relating to the number of rooms used over the total rooms in the house. Why are you only including 26 weeks for this when there are 52 weeks in a year? The £3 pw is for employees.

PlutoinCapricorn

The internet 25% seems a little low: is this a realistic estimate?

The £3 allowance is for employee who are required to work at home, not for self employed people.

You the ignore kitchen and bathroom and find the right percentage depending on how many other rooms you have. If you have 4 other rooms, then claim 25% of water, electricity, gas, council tax and mortage interest and service charges if applicable.

bargainhunter90

Thank you fengirl and plutoincapricorn

Capital Expenses - I have equipment previously purchased starting off from oct 07 for personal use now used in the business and still using the equipment and think its reasonable to claim 25% for the cost?

Internet - 25% is what I thinks reasonable

Use of Home - I wont claim if its that complicated and mainly for employees at the #3 rate. I just wanted to include a small amount of running costs
(There was 26 weeks I run the business in that tax year as I only started in oct 08)