Is there any point in knocking myself out?

Tinytoes_2

I'm self employed (sole trader) and completing my 2011-2012 Self Assessment. I only ever have to complete the short return as I don't earn much, so I only have to state three figures - income, expenditure and net profit. Having been quite ill for most of that year and with various domestic crises (worst year of my life, TBH) I'm afraid I haven't kept a written record of my expenses for the period as I should have, although I do have all my receipts and bank statements in one place, ready to be input. My question is: since my income is far below the personal allowance, is there any point in recording all of my expenditure in detail, since I won't be paying any tax anyway? I've detailed all the biggest expenses, such as supplies, in my records, but the thought of wading through every last bus ticket and scrap of paper makes my heart sink. I will make the deadline either way, but if it's not necessary, I'd really rather avoid the extra work if it's going to be a wasted effort.


Just for info: If I did detail all my expenditure, it would not result in a loss for the year, so it wouldn't have any effect on future years. I don't expect to exceed the personal allowance in future years either, as my business is only a part time venture.

Katykat

Might be better to post this on the Cutting Tax board as there are more tax savvy people there

Tinytoes_2

Oops - sorry, thought I had, I was on the wrong page when I posted.. I've reposted on the other board now, thanks for that.