Tax Return

katies_mum

Wondering if anyone can help.

I`m filling in my tax return and turnover is less than £30,000 last year I was able to lump together my allowable expenses and it let me put them in one box, this year there is a list of allowable business expenses coming up with the last item in the list being Total allowable expenses. Please does anyone know if I will have to break them down under each section or can I put the total of them all in this one box.


Many thanks

no-oneknowsme

Surely on the online return you will be able to use box 19 to list the total of your expenses ?

You dont need to break them down .

katies_mum

Thanks, thats what I think, its just last year this big list of expenses didn`t come up - I was only given `one box for total expenses`. Sometimes I wish I`d just stayed with the short paper return!

no-oneknowsme

It tells you on the return that if your income is under a certain amount (is it £67k) you only need to list your expenses as one total figure in box 19 instead of completing boxes 11-18

tyllwyd

I think when I did it there was an option quite early on saying do you want to enter your expenses as one figure - maybe you didn't check that box.

no-oneknowsme

tyllwyd wrote: »

I think when I did it there was an option quite early on saying do you want to enter your expenses as one figure - maybe you didn't check that box.

I dont remember seeing this box tbh....all i remember is it being written that if your earnings are below a certain limit then expenses could be listed as one figure instead of a detailed break down.

katies_mum

no-oneknowsme, is that on-line as I have been throught each screen loads of times and can`t see it. It asks if your income is below £68,000 `ish but thats all I could see.
tyllwyd - no that option isn`t there, I am sure there was something similar last year.t year.
Please would anyone have a link or the wording where it says you can list expenses as one figure. I don`t want to incurr the wrath of the tax man if I do it wrong.
I appreciate your help thank you all.

no-oneknowsme

You can definately list your expenses as one figure instead of breaking them down Katies-mum.

Read just before box 11 , thats where it tells you this is ok if your earnings are below £68k.

no-oneknowsme

Katies-mum , look at this link http://www.hmrc.gov.uk/forms/sa103s.pdf This is the return you are filing isnt it ?

If you read just above box 11 of the expenses section it clearly states that as your turnover is below £68k you are fine with the total of your expenses in box 19 .

katies_mum

Many thanks no-oneknowsme, the wording is the same on the boxes for the expenses etc its just the on-line version. I`m going to just lump it all together as I did last year when doing it on-line.

Thanks again

katies_mum

I`ve printed the page from the website re: Allowable Business Expenses Boxes 10-19 where it says if your annual turnover was below £68,000 you may just enter your total allowable business expenses in box 19 rather than give a more detailed breakdown. I`ll keep this with my accounts.