MYSTERY SHOPPING THREAD XV - please, no mention of client names or fees on here

kate1_2

Oh you're a star! Thanks very much. I was getting myself really stressed over it. It's quite simple now I know what I'm doing lol. I might actually enjoy it now.

thanks
kate

jen_br

yuppers stay tuned ill post a tax return

misssarahleigh

jen_br wrote: »

Kate just got off the phone with HRMC, and Sarah is incorrect. Like I said you need to claim these reimbursements and they go under your allowable expenses.

Therefore your INCOME would be 30.00 and then under allowable expenses it would be 20.00. Since you are earning under 68,000 you don't need to break down your expenses however you must be able to produce such evidence as required.

You just need to put all expenses in box 19

*** the only time you would NOT record the expense is if you had to send the product back i.e Tshirt shoes etc **

Well on my spreadsheet i do


Date Job completed
Company
Client
Location
Fee
Purchase Reimbursment
Mileage Reimbursed
Other Reimbursement
Money Owed
TotalPrinted Sheets
Print Cost
# of Miles
Mileage expense
Actual Spend
Other Costs
P/L for job

I add all the money i get, then take away oall of the expenses. Is this wrong then? Because your not paying tax on the stuff you buy as it's offset against calling it an expense. I have heard other people in the past argue and say that they do pay tax on this money.

Thought i had the hang of it but confused now lol

dazza.mk

Often debated point but theoretically oif you are gaining a benefit from the product it shouldn't go as deductible purchase on your return.

ie:
Take GAP Fast Food, you are asked to purchase specific meals and comment on them, you might not have purchased them given a choice, its 'incidental' that you may not need lunch therefore you could claim it as an expense on your tax form.

or:
Take some of the TNS Supermarkets, where you will be reimbursed upton £3-4, given you've got free reign on what to purchase you are gaining a benefit (as probably your weekly shop will be a couple of pounds less), and as such you'd probably find it difficult to argue that it was a valid expense.

kate1_2

this hurts my head :eek:

misssarahleigh

dazza.mk wrote: »

Often debated point but theoretically oif you are gaining a benefit from the product it shouldn't go as deductible purchase on your return.

ie:
Take GAP Fast Food, you are asked to purchase specific meals and comment on them, you might not have purchased them given a choice, its 'incidental' that you may not need lunch therefore you could claim it as an expense on your tax form.

or:
Take some of the TNS Supermarkets, where you will be reimbursed upton £3-4, given you've got free reign on what to purchase you are gaining a benefit (as probably your weekly shop will be a couple of pounds less), and as such you'd probably find it difficult to argue that it was a valid expense.

Thats the point i was trying to make. just didn't do a very good job of it so thanks. I put everything as an expense. My argument being, e.g. i would not have gone to that supermarket and bought those items had i not been doing a shop (which i wouldn't have done)

Or, i would not have bought that book, from that shop, at that price had i not been on a job. (i've bought a few books which was nice but i can confidently say had they not been part of a ms i would not have bought them elsewhere, i would have lived without)

jen_br

http://img42.imageshack.us/g/tax1k.png/

tax return for those that asked

for breakdownof legal expenses stay tuned ill type up report -- been SE for 6 yrs

squidgeum

Anybody else having problems with the Gfk Cinema test? I just cannot get it right and there are only 4 questions :eek:.

jen_br

i did it ok

WiiMee

misssarahleigh wrote: »

Thats the point i was trying to make. just didn't do a very good job of it so thanks. I put everything as an expense. My argument being, e.g. i would not have gone to that supermarket and bought those items had i not been doing a shop (which i wouldn't have done)

Or, i would not have bought that book, from that shop, at that price had i not been on a job. (i've bought a few books which was nice but i can confidently say had they not been part of a ms i would not have bought them elsewhere, i would have lived without)

I agree with you. I have a mountain of things that I wouldn't have bought if I had not been MSing so therefore they are an expense. In my case it is probably theoretical because I always make a loss anyway because of my mileage expenses.