tax 4 self-employed

digp

is there a list of what you can write off against tax,
cheers.

Chippy_Minton

Trawl the HMRC - http://www.hmrc.gov.uk/selfemployed/

inmypocketnottheirs

digp wrote:

is there a list of what you can write off against tax,
cheers.

Any expenses incurred and connected to the running of your business.

digp

that could mean anything depending on how you interpret it

Savvy_Sue

digp wrote:

that could mean anything depending on how you interpret it

that's what people pay accountants for ...

Have you trawled the HMRC site? IIRC there's quite a lot about what is and isn't allowable.

cumbrianboy

Savvy_Sue wrote:

that's what people pay accountants for ...

Have you trawled the HMRC site? IIRC there's quite a lot about what is and isn't allowable.

any idea how much you would pay for an accountant to do your tax return for the self-employed?

Irishorangutan

cumbrianboy wrote:

any idea how much you would pay for an accountant to do your tax return for the self-employed?

A lot depends on how much prep work you do. If you have it nice and and laid out and in order, then it's likely his/her work will be less, and you will pay less.

My first year I didn't earn a heap and I paid around 250 for my accountant - well worth it. This year (third) I paid around 400 tax and paid my account the same-ish.

One word of advice, you may find that you will be much less with an accountant in tax, even when you add the fee. They are very handy, and also are a good deterent for any possible investigation into your taxes. I wouldn't change having one.