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Not sure what I am asking!
Becky
Posts: 123 Forumite
in Cutting tax
I live with my partner, not married. Oh, and no children.
I am self employed and he works for a pittance. He spends a massive amount (in comparison to wages) to get to work so is bringing home very little once the tax man sticks his fingers in.
My work is great when going well but as with self employment goes through peaks and troughs.
Can we / him claim anything? I have no experience with tax credits etc so I don't really know what I am asking!!!
If there are any good websites out there with information, I would be grateful to know. :j
I am self employed and he works for a pittance. He spends a massive amount (in comparison to wages) to get to work so is bringing home very little once the tax man sticks his fingers in.
My work is great when going well but as with self employment goes through peaks and troughs.
Can we / him claim anything? I have no experience with tax credits etc so I don't really know what I am asking!!!
If there are any good websites out there with information, I would be grateful to know. :j
0
Comments
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On the tax credits issue have you thought of Working Tax Credits? (no children required)
Look here......
http://www.direct.gov.uk/MoneyTaxAndBenefits/BenefitsTaxCreditsAndOtherSupport/TaxCredits/TaxCreditsArticles/fs/en?CONTENT_ID=4015483&chk=Bl770B
On the general issue of "claiming" the main rule is you can claim anything against your self employed income that is "wholly and exclusively" for the purposes of your trade/profession. Clearly I don't know what you do so can't give specific help but just think about everything you spend and ask yourself...."is this an expense "wholly and exclusively" for the business?" If yes then claim it.
Entertaining is OUT completely. No discussion. And be careful you don't go overboard on your claims in some things (like "subsistence away from home" for example).
On PAYE the claiming of expenses is much more diffucult as, not only must the expense be "wholly and exclusively" but it must also be NECESSARY and incurred IN the performance of the employment. A much harder nut to crack but not impossible.
Have a think. I'm sure others will have some helpful comments too.
Very best wishes in your efforts.0
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