Self Assessment Self Employed claim job expenses

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Amaregaz
Amaregaz Posts: 3 Newbie
in Cutting tax
Hi, can someone explain how to claim expenses for my job.
I'm self employed and in the last tax year (ended april 2018) I spent 1344 pounds on job expenses.
From what I understand (from the Gov website) I need to fill in the Allowable Expenses section in order to claim.
But how is this done? It's the first time I completed a Self Assessment form.
I've added my debit card details in the repayment section.
Do I need to do anything else? Do I need to contact my bank ?
How do I know if I'm getting the money? How long does this procedure usually take?
Thank you.

Comments

  • TheCyclingProgrammer
    TheCyclingProgrammer Posts: 3,702 Forumite
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    Just to be clear, you don’t get your expenses reimbursed, you just get tax relief on them.
  • 00ec25
    00ec25 Posts: 9,123 Forumite
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    given your relative lack of knowledge why do you think your £1,344 is all valid expenses that you can claim? What is that total made up of?
  • beefturnmail
    beefturnmail Posts: 906 Forumite
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    No offense, but your post with very vague and open-ended questions makes it sound like you don't really understand what you need to be doing. Suggest you might be better off building up your knowledge a bit more by looking around a bit more on the HMRC website (they have online training courses, webinars etc), rather than asking on here. Or if you don't want to do that, get an accountant to do it for you.
  • Amaregaz
    Amaregaz Posts: 3 Newbie
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    00ec25 wrote: »
    given your relative lack of knowledge why do you think your £1,344 is all valid expenses that you can claim? What is that total made up of?
    Bus fares, tools, work equipment, work insurance. I've paid for all of them with my own money.
  • Amaregaz
    Amaregaz Posts: 3 Newbie
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    TheCyclingProgrammer wrote: »
    Just to be clear, you don’t get your expenses reimbursed, you just get tax relief on them.
    Does this mean I can get a part of the spent money back?
  • 00ec25
    00ec25 Posts: 9,123 Forumite
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    Amaregaz wrote: »
    Does this mean I can get a part of the spent money back?
    dear grief no

    have you not even got the basics of self employment yet?
    You work out your profit and you pay tax on that profit
    profit = income - expenses
  • sheramber
    sheramber Posts: 19,239 Forumite
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    You add up your gross income for the year.

    You add up your allowable expenses from your receipts. You did keep them didn't you?

    You subtract the expenses total from your gross income and the balance is your profit.

    You pay tax on your profit less your personal tax allowance.
  • Tammykitty
    Tammykitty Posts: 1,005 Forumite
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    edited 8 November 2018 at 3:41PM
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    Just to clarify


    You are self employed - as in fully self employed and not a contractor under CIS (ie paying tax on your income at 20% (or 40%)?


    Assuming fully self employed than you will not be getting any money back and will probably owe tax on your profits


    Profits = Income (Turnover) - Allowable expenses


    For allowable expenses - read up on these on the HMRC website
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