self assessment question

windswept

Right, I have all my figures worked out for our first business tax return,( I know , I'm keen!)
my question is : where do I put in the amount claimed for mileage?
we will only have to fill in the short 3 line version for turnover less than £15K, so do I just include it in the box for all expenses? i.e. 496 miles @ 40p =£198.40 ? (totalled up with everything else including cost of sales).
would it be best to put it in the box at the end as well to show a breakdown of expenses like general + cost of sales + mileage?
with it being our first year of trading we have had a lot of start up expenses so will be showing a loss of @£600, which will be carried over to next year presumably, so if I am not completely thick means that the first £600 of profits will not be taxed in 2008? ( we are both employed too but don't want to go into claiming it back through tax codes etc).
thanks in advance .

ukbill69

You really need to talk to an accountant Id say. They do this for you, if you make a misstake then can cause your real grief.

martindow

Lots of accountants give free half hours in the hope that you'll become a profitable money paying client later. Worth looking in the yellow pages and asking before you pay at their incredible hourly rates. There's also this thread with someone who has kindly offered their help
http://forums.moneysavingexpert.com/showthread.html?t=410461

Pandora70

Hiya - you should show your mileage benefits in the all expenses box on the 3 line accounts part. if you have made a loss and want to carry it forward to the next tax year you need to fill another box in to say so - think its something like 3.84 but Im not sure. Will have a think for you
Hope this helps