Self assessment advice

Brian_the_gas_man

I'm starting to get to grips with my SA, I always have doubt that I miss out deductions though as I don't know rates and allowances beyond the most basic info.

I could obviously pay an accoutant, but those I have been to see haven't impressed me much, namely laying down the law of what I can't claim, instead of what addional areas I could claim for.

So I am asking here for either advice or information on deductions, or if anyone could rec'd an accountant near me, I live in South Cambs between Cambridge and Royston.

Thanks

Elaine_Wilson

I have some sympathy with the accountants you've seen. You'd like him (or her) to identify items of expenditure which would be allowable deductions. But you admit you cannot remember what you have spent and you are running the business.

Paraphrasing a bit, the law says that you can claim for any expenditure you incur in running the business unless it is specifically excluded in some legislation. So if you record everything that is remotely related to your business then you are bound to get everything. The accountant can tell you which items are excluded.

For a quick guide look at the notes to the self employment pages. I think page 8 has lists of what the Revenue consider allowable and what they believe excluded.

I realise I've made the assumption that you are self employed. If you are actually employed there is little you can claim and the notes refer to most items. Flat rate allowances can be found on hmrc's website.

Brian_the_gas_man

Elaine_Wilson wrote: »

I have some sympathy with the accountants you've seen. You'd like him (or her) to identify items of expenditure which would be allowable deductions. But you admit you cannot remember what you have spent and you are running the business.

Paraphrasing a bit, the law says that you can claim for any expenditure you incur in running the business unless it is specifically excluded in some legislation. So if you record everything that is remotely related to your business then you are bound to get everything. The accountant can tell you which items are excluded.

For a quick guide look at the notes to the self employment pages. I think page 8 has lists of what the Revenue consider allowable and what they believe excluded.

I realise I've made the assumption that you are self employed. If you are actually employed there is little you can claim and the notes refer to most items. Flat rate allowances can be found on hmrc's website.

Yes I'm self employed and do a combination of sub contract and my own work.

Things such as van, tools, insurance etc I've got covered, the sticky bit is things such as mobile and home phones, garage/workshop turned over to storage of tools and materials, computer and maintaining an office in the house, % of power and heating claimable - this is the bit where I get annoyed because if I am inderstanding the last accountant I spoke to correctly, HMRC expect me to provide these latter items for my business for free as they are at my home address, which I don't argee with.

Thanks for your advice, I'll have a look at the self employment pages.