Tax return- book keeper or accountant?

TITEASCRAMP

I rcecieved my husbands this morning they are quite straight forward really. Give a go you have months to get it right. One thing though u cant claim back vat if you are vat registered

martindow

TITEASCRAMP wrote: »

I rcecieved my husbands this morning they are quite straight forward really. Give a go you have months to get it right. One thing though u cant claim back vat if you are vat registered

VAT is quite separate to income tax. If VAT registered, the business will have quarterly VAT returns which have to be sent back with your payment. The business accounts are normally made up using the nett amounts (without the VAT element) for both your sales and expenses which are entered in the tax return.

If you are not VAT registered you use the gross amounts for expenses - of course there is no VAT involved with your sales. You cannot reclaim the VAT in this case but don't be too sad as you don't have to charge it to your customers and pay big cheques to HMCE every quarter!

Savvy_Sue

the_optimist wrote: »

And don't worry about the employed jobs. You will get a P60 for each one.

Only for those you are actually employed by at the end of the tax year.

Sometimes employers produce them for people who've left during the tax year, but they shouldn't, and they have no way of knowing if you're still at the last address they had for you.

If you only have one employer at the end of the tax year, you'll get one P60. If you have an unbroken chain of P45s through the year, it should correctly show your PAYE income for the year, and the amount of tax and NI deducted.

If that makes sense ...