Newly Self Employed Q's

ratrace

Hi, I have just become self employed on 06/12/15 I have registered with Hmrc on the website and have my online gateway number and im still waiting for them to process the application. I have a few questions that i hope you can answer for me about being self employed.

When is my self assessment due do i wait for a whole year or do i still qualify for the 14/15 tax year the reason I ask is because I have been unemployed since the beginning of the tax year ie April

Im a self employed driver and im going to be doing around 20,000 business miles can i claim 45p a mile for all the 20,000 miles

I have bought a car for £4,000 can i claim full AIA for my car as well as claiming for the 20,000 miles separately or is it only 1 or the other


Sorry for the naïve questions this is my first time working for my self


If you can answer the q's that would be brill thanks in advance


Regards
Rat Race

Darksparkle

What do you mean do you qualify for 2014/15? Qualify for what?

06/12/15 is in the 2015/16 tax year, April 2015 to April 2016.

No you can't claim 45p for all 20,000 miles. Mileage rates are here - https://www.gov.uk/simpler-income-tax-simplified-expenses/vehicles-

ratrace

Darksparkle wrote: »

What do you mean do you qualify for 2014/15? Qualify for what?

06/12/15 is in the 2015/16 tax year, April 2015 to April 2016.

No you can't claim 45p for all 20,000 miles. Mileage rates are here - https://www.gov.uk/simpler-income-tax-simplified-expenses/vehicles-

45p for first 10,000 miles
25p for any miles over

thanks

CLAPTON

ratrace wrote: »

Hi, I have just become self employed on 06/12/15 I have registered with Hmrc on the website and have my online gateway number and im still waiting for them to process the application. I have a few questions that i hope you can answer for me about being self employed.

When is my self assessment due do i wait for a whole year or do i still qualify for the 14/15 tax year the reason I ask is because I have been unemployed since the beginning of the tax year ie April

Im a self employed driver and im going to be doing around 20,000 business miles can i claim 45p a mile for all the 20,000 miles

I have bought a car for £4,000 can i claim full AIA for my car as well as claiming for the 20,000 miles separately or is it only 1 or the other


Sorry for the naïve questions this is my first time working for my self


If you can answer the q's that would be brill thanks in advance


Regards
Rat Race

for the tax year 2015-16 you can submit your tax up to end January 2017

and no, you can't claim mileage and for the cost of the cost: one but not both

ratrace

CLAPTON wrote: »

for the tax year 2015-16 you can submit your tax up to end January 2017

and no, you can't claim mileage and for the cost of the cost: one but not both

Thanks really helpfull makes sense to claim for miles as i may go over 20,000 once again thanks