you know when all you lovely people give advice...

postingalwaysposting

pippo wrote: »

Don't worry Pap, just make a note.
There is quite a while before starting up in business before you need to send in returns, but as you say Rog will no doubt have a better handle on this.

We found that a 'Simplex D' account book worked well. Just write in money in and money out plus a buscuit tin for receipts and do the sums at the end of the tax year.

PS How the heck do you win at bingo? It is busily boring me to death as I write!

Thansk pippo, i have a notebook for receopts but i was going to buy a page to view diary (big one) in work this week becasue they are on offer. Would the account book be better?

Ohh teh bingo. I go on a 75 ball room, go on the quitest room and buy last minute (you can see the players tallying up near the top). Also max your tickets thats how i won. But first of all i play 2/3 cards. I won once and then withdrew then i went back and maxed the cards again and won again. The third time i won it was last thing at night and the 10p room was full so i did the 25p room and maxed them and won :rotfl:that was tehe last of the money too

pippo

A diary will work, but the simplex book I mentioned helps when you eventually come to tax returns. What we find helps us is to number each recept and write down what it was for.
By the way, you can discount all computer purchases against tax when you are up and running.
My OH (Old Pops) runs a handyman business now and we manage his accounts between us.

Thanks for the bingo tips
Pip
PS Do you understand their chat rooms?

postingalwaysposting

pippo wrote: »

A diary will work, but the simplex book I mentioned helps when you eventually come to tax returns. What we find helps us is to number each recept and write down what it was for.
By the way, you can discount all computer purchases against tax when you are up and running.
My OH (Old Pops) runs a handyman business now and we manage his accounts between us.

Thanks for the bingo tips
Pip
PS Do you understand their chat rooms?

Right i am of to find a simplex book :rotfl:No i dont completely understand the chat rooms, they do my head in to be honest so i usually let it run itself :rotfl:

rog2

postingalwaysposting wrote: »

coooeeee Mr rog :hello: Can i ask you a question? I have just sent off the tax/national insurance stuff, i know its a bit late but what with xmas and stuff. Its still within the three months though. However do i have to start saving for tax etc and stuff? Will i get a bill each month or once a year? Do you get a few days to pay it so i can transfer savings etc? Do you know what an approxamation will be or does it depend on what you sell?

Hi PaP - Hope you're feeling a bit better today. With regard to the 'tax/NI' situation, I'm probably not the best person to ask - after all I was declared bankrupt by HMRC :rotfl: - but I agree with the advice posted. In your (cards) situation, the 'SIMPLEX' book is probably the best - it does cost, though - last time I looked it was about £20 in WHS - it's like a diary, but you write all your income and expenditure in the right places, every day/week. and, by adding up the various columns, it will show you what tax/VAT etcetera you must pay - or what you can reclaim.
As it was the dreaded 'Self Assessment' that was my downfall, I would suggest that you get an accountant to do this for you - it shouldn't cost much, especially if you record all your income/expenditure in the 'SIMPLEX' book.
Have you thought about VIKING as an alternative to High Street Stationers? They are a 'fraction' of the price, and will deliver, next day, free if you spend £30 or more - they also do their 'equivalent' range - year planners, accounts books etc, which are as good as the branded makes but much cheaper. Plus you usually get a 'free' gift on your first, and subsequent purchases.
Only problem with VIKING is that they will inundate you with 'sales' leaflets.

embarrassed_about_my_debt

postingalwaysposting wrote: »

However do i have to start saving for tax etc and stuff? Will i get a bill each month or once a year? Do you get a few days to pay it so i can transfer savings etc? Do you know what an approxamation will be or does it depend on what you sell?

This depends on how much you make from your self employment and also if you have an employed job?

When did you start trading? If your tax payment is under £500 a year from self employment then you will just have to pay once a year. If it is more then you will have to start making payments on account.

SarahNeedle1872

Hiya Hun, just popping in to say helllloooo...... won't be on much longer, new Season CSI & CSI: Miami tonight, so its a night in front of the tv for me!

Good luck with ur tax minefield tho, hope u get all the help u need (I'm rubbish with all that, but will give u moral support!)

Sarah x

PS ~ 11 days to go......

kpey

postingalwaysposting wrote: »

ohhh ok sarah hope you not too warn out when you get there :rotfl:

~~~~

right thanks to pania and then snaggles i have managed to 'win' £88.09 on bingo and i still have 20 sites to complete :rotfl: i had to deposit £10 but i will get that back when they come through in two days. Fingers crossed it arrives on Tuesday so i can count it for the Olympic challenge :j unsure if to keep the Olympic challenge in a 'pot' or spend it :rolleyes:?

Been updating my soa today with budgets and stuff and i am really pleased because it is looking much healthier. Also i managed to get to the Asian shop and brought quite a bit that i can use for crafting. This week i pledge to make at least one card a night, i made one last night and i shall start some in a few min for tonight. I will then upload them Friday.

Thats me, felt very down yesterday and i still am to a point, things are annoying me that wouldn't usually iyswim. But hey ho, still feel sicky, had some tea but still not right so dosing up on paracetamol and hoping whatever it is will lay low and fizzle out. Was up on here till nearly 2am today so tonight i will go to bed early :rotfl:

Bingo? What bingo? Enlighten me please I want some free bingo without making a deposit as I have no deposit to use! Thanks! (sorry random request but I just picked up on this comment!)

In_Search_Of_Me

Just popping in to say hi. How you feeling. Did your CJ arrive - must get on with mine this w/e!

postingalwaysposting

wow rog thanks, lots of information there. I will see if tehy sell simplex books in work tommorow, if they do i will grab one payday. If not i shall order one from viking ~ junk mail can always be recycled What happens though if you buy things on your reciept that isnt for the business? Do you highlight them off the reciept?

eamd ~ i do have a full time job but i dont earn mega money i think its something like 11k per per 12 months before tax and ni. My website went live in november and so far i have made about £80.

sarah, thanks. Dont worry i was having an early night and ended up falling asleep for an hour. Just logged back on to check my ebay account etc Yes i cant wait for the meet, not long now. I will send you a picture but i am having all my hair cut off tuesday so it will be pointless to send one now :rotfl: ~ cant wait chat soon...

kpey take a look at this thread look at post 572 for an upto date list. Basically its one program that lots of gateways use ~ ie closer/dailymail/mirror etc. So if you signup with each person you can get either a £5/£10 free play. Each ticket its 10p+. Signup using a different email adress though as you will get lots of spam. When you signup play the free money and hope you win... if you dont win please dont deposit your own cash. Once you win to get your money out (onto the card you registered with) you will need to deposit £5 into your account ~ but you get that back. Do this as soon as you win then withdraw your winnings inc the £5. If you still heve any of the original money left you can carry on playing. Apprently its takes about 5days to reach you account

In Search Of Me, hi hun. Yes the book arrived but the paper i ordered i actually orded 2 different styles so i have had to buy more. I will do mine tuesday evening and prob finish my insert for it the weekend before posting day would do mine this weekend only i am working ~ however i could do a little in the evening :rolleyes:

take care all

postingalwaysposting

can i ask for some help? I am taking part in gemmzie's olympic challenge 08 ~ its my first attempt but i am really going 100% to this. Also in line with my new brassic/frugal life style i have listed 31 items on ebay that end tommorow/thursday. Now so far i have those waiting to finish on ebay standing at £73.20 and £98.09 transfering into my account from the free bingo sites. So before i take out fees/postage (although the latter is coved) i will have 'made' £171.29 this month (profesionally).

Now this is where i am stuck, do i put it in an empty current accout? into my savings account? off my debt? or do i (i know not very mse of me) buy a die cutting/embossing machine for my business. Now i have mentioned this before, basically its a machine that turns normal card/paper into shapes or embossed to add to my cards and my own personal use. I may also have an avenue of selling some of the die cuts made however there isnt a big market for these. The machine retails for £60 and the plates/cutters roughly £5 each/per set. I can see it adding dimension to my card however i am unsure if its a good expense. I would love it but deep down i feel like it may be one of those things i buy and use a few times and then never use again. I have my money from work to put towards it and i have mentioned to them i may be buying this machine with the money. But unsure what to do... Any opinions on the subject?