Self Assessment: PayPal & Turnover?

effortless

Hey guys,

Continuing with my "beginnerness" with self assessment and not being able to afford an accountant, I am working out the finances between Oct 27th 2009 & April 5th 2010.

My only 2 sources of income for my online business has been AdSense and PayPal.


In that period, I have sold items on eBay for big amounts (~ £300) that aren't to do with the business, but show up on bank statements. Do I need to include these?

I've also been given some low donations through PayPal (< £10), do these need to be included?

Lastly, I have been given amounts in $ by a client (e.g $60, $2.64 in fees, £37.16 to me). How would I include these?


If I combine these with my Adsense earnings, does that make the Turnover?


I am very sorry for my noobness!

theculverhouses

Hi effortless

Assuming the other non business items you've sold are not a separate 'business' in the early stages then no don't include them - i.e. are they just things you are selling second hand that you have previously owned privately?

The donations you have made can be included on the section of the tax return where you have made donations under gift aid (assuming you have done so under gift aid). If you are not sure then exclude them, small donations to local charities are generally allowable from a business.

I'm not sure i understand the bit about the money being given to you. was this for work you delivered. If so then include it as turnover. If it was in settlement of a cost you incurred on behalf of someone else then net the two off against each other.

Hope that helps a little bit.

Tim