just a quickie

asquiths_2

Can anyone just confirm i am working the mileage allowance out right for my husbands self assessment?

3213 miles x 40p = 1285.20 ???

how does this need inputting into the self assessment form?

do i deduct this amount from the profit?

sorry if this is a really daft question i'm just worried about filling it in wrong.

thanks

so does this look right?

earnings £2150
admin expenses £241.53
Capital allowances £168.91
motor/travel expenses £264.90
business miles @ 40p per mile - £1285.20
hospitality 14.70
gas/electricity allowance 40wks @ £3 per week - £120
= £54.76 profit?

cheers for your time xx

CAN1976

At my place of work the amount has changed from 6th April 2011 to 45p per mile. I assume this comes from a govt change but can not guarantee that.

pipscot

asquiths wrote: »

Can anyone just confirm i am working the mileage allowance out right for my husbands self assessment?

3213 miles x 40p = 1285.20 ???

how does this need inputting into the self assessment form?

do i deduct this amount from the profit?

sorry if this is a really daft question i'm just worried about filling it in wrong.

thanks

so does this look right?

earnings £2150
admin expenses £241.53
Capital allowances £168.91
motor/travel expenses £264.90
business miles @ 40p per mile - £1285.20
hospitality 14.70
gas/electricity allowance 40wks @ £3 per week - £120
= £54.76 profit?

cheers for your time xx

Is this for a self-employed business?

CLAPTON

assuming it is for SE and for last year

then what are the motor travel expenses?
and how do they relate to the mileage claim

but essentially yes, you offfset the mileage amount against profit

asquiths_2

Hi all,

he is a self employed consultant and is registered as a sole trader.

The motor/travel expenses are car hire, train tickets, hotel for business.

Capital allowances are printer, phone and new laptop charger?

This is his first year as a self employed consultant (started 1/7/10)

He has spent most of his time visiting potential clients. (Business mileage) Although he has made little in terms of earnings so far there is alot of business in the pipeline for the coming year.

Do all the things i have listed see ok?

Thanks again