Best app to calculate tax and complete HMRC requirements

beckysbobbles1

Hi all


My partner is a self-employed physiotherapist and has started a contract where the company pays him fortnightly gross. We're trying to think of the easiest way to keep track of his income tax and NIC payments.


Is Quick Books any good? We know he needs to set money aside from this gross pay but it would be good if he has something to calculate it.


Also how would we find out if there are any legitimate expenses he can claim for? He takes the train into London each day but everywhere only says about mileage. He also wears a uniform but we tend to wash it at home but I think you can claim for dry cleaning, I assume you'd need receipts for this?


Thanks in advance for any replies.

Bailey18

Quickbooks is great! I use the self-employed version and it has been a lifechanger.

It won't let me post a link on here but if you google 'self employed allowable expenses' and then go on the Gov website it will list them out. You can claim train fairs but not when it is between home and work.

Hope it helps!

beckysbobbles1

That's great to hear from a Quick Books user - thank you. I'll search the expenses thanks.

Savvy_Sue

You could use QuickBooks, but you could also set up an Excel spreadsheet which would probably do the job.

JohnDorian

For fortnightly payments you are looking at a very small number of transactions over a year. You could just set up an excel spreadsheet. I think an accounting package would be overkill given your bank, accounts payable and accounts receivable are minimal/non existant

*~Zephyr~*

Quickbooks is awful! Definitely not worth the money. But I guess it's all in the eye of the beholder (or user).

You'd be just as well setting up a spreadsheet and, as a safety net, stick 20% of everything he earns in a separate savings account and DO NOT TOUCH IT!

If he's likely to go over the threshold into 40% tax, then increase what you put away at that point.

It's a pretty easy calculation to figure out the tax that will be due.

Expenses that can be claimed are explained very well here: https://www.gov.uk/expenses-if-youre-self-employed