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Disallowable expenses
MoneyTreeMe
Posts: 55 Forumite
Hi,
After completing the allowable expenses section of the HMRC online self assessment, it takes me to page showing disallowable expenses... Do I really need to add up how much I spent on food everyday, the bits and pieces I bought from shops like games, clothes, gifts and so on during the entire tax year? Or can I leave the boxes blank and not add anything ?
What does HMRC want me to do here? Do they mean 'disallowable business' expenses or 'disallowable everyday personal expenses like food/clothes etc'?
I am self employed sole trader who works from home...
After completing the allowable expenses section of the HMRC online self assessment, it takes me to page showing disallowable expenses... Do I really need to add up how much I spent on food everyday, the bits and pieces I bought from shops like games, clothes, gifts and so on during the entire tax year? Or can I leave the boxes blank and not add anything ?
What does HMRC want me to do here? Do they mean 'disallowable business' expenses or 'disallowable everyday personal expenses like food/clothes etc'?
I am self employed sole trader who works from home...
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Comments
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Disallowable means the private/disallowed portion of whatever you put in the normal expenses boxes. So, say, if you put down your total mobile phone bills, say, £500, in the first section, and half the use was for private calls, you put £250 in the disallowed section. Same with other costs. You don't put anything in the disallowed section that wasn't in the first section. Expenses which are purely private shouldn;t have been included in the first section anyway, so don't need to be put in the second disallowed section.1
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Oh that makes sense!! I can't see an option on the online form about payments on account. I already have payments on account which I paid last year towards this year's tax... How do I carry them over towards this year's tax bill?Pennywise said:Disallowable means the private/disallowed portion of whatever you put in the normal expenses boxes. So, say, if you put down your total mobile phone bills, say, £500, in the first section, and half the use was for private calls, you put £250 in the disallowed section. Same with other costs. You don't put anything in the disallowed section that wasn't in the first section. Expenses which are purely private shouldn;t have been included in the first section anyway, so don't need to be put in the second disallowed section.0 -
You don't. You file the return and then check your online account in a few days.
That will show the amount due for 2019:20 and how it has been split into POA and Balancing Payment along with any POA due for 2020:21.0 -
Ok, will HMRC automatically reduce this year's tax by subtracting last year's payments on account which I paid July 2020?Dazed_and_C0nfused said:You don't. You file the return and then check your online account in a few days.
That will show the amount due for 2019:20 and how it has been split into POA and Balancing Payment along with any POA due for 2020:21.0
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