Hi All,

Im 23 and started my own cleaning business just after the end of the last tax year. I have put down 15th April 2017 as my start of trading date, and registered for Self Assessment this April 8th 2018.

I was just doing a few odd jobs here and there whist living with parents, then realized I was turning over more than I though it would (still small fry) but enough to become a livable wage.

My record keeping has been dismal, I have been paying for cash with some things, a couple of different bank accounts for some things, I missed off a few written jobs along the way etc etc, i'm dumb for going into it a bit blinded, but don;'t regret going into this at all.

I've tracked down as many printable invoices as possible of things iv'e purchased over Apr 17 to Apr 18, such as a pre-owned start up cleaning packaged (jet wash, carpet cleaner, lots of tools etc) which was £3,450 with receipt. my van £1100.00, my business phone bill including redirects £300.00, business marketing £1200.00. I haven't kept all the smaller receipts like my uniform, fuel, milage, cleaning solutions etc.

My turnover in the first year has been: £15,455.00
My expenses which I can make accountable is: £6050.00

So in the first year with the receipts I have available I have made: £9405.00

Now because i'm in my first year, and have made under the threshold of taxable income, i'd have thought that me not keeping track of all my expenses will not make any difference in what I earn, as either way it would have been under the taxable threshold? and I still wouldn't have made loses to carry onto the next year, so no benefit there really. I have probably not kept receipts for around £1500.00 of materials etc, so profit is more realistically £7905.00.

Do I just now remain vigilant with record keeping, and not lose too much sleep about me paying for cash with fuel sometimes, then card other times etc, if i am not actually claiming on it.

Also, when will they write to me and ask me to do my first return? I have signed up for self assessment this week, and not received a self employed tax number yet.

Also, I have now set up a bank account just for my business, do I have to pay the exact amount of money that is earnt in cash into this account? or should I just pay what I can into it that will keep me covered for business expenses so all the credits & debits are recorded, and the remaining cash I can use to either deposit to my current account, or put into savings, or just spend some as cash?