Career in finance

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Almost everybody need a career in finance at some time. You may need a finance for your family. You may want to a career in finance for your car. You may find a finance will be helpful to set up a business. There are many to play with career in finance.

Buying your dreamed home now!

It sounds as if you're finding that "self assessment" is a contradiction in terms. In theory you are supposed to be able to do your own returns but to be honest I find it difficult to imagine how the average person off the street is supposed to be able to wade through it all.

Regarding your motoring expenses there are two ways of claiming them back.

You either claim capital allowances and the business proportion of all running costs ie road tax, fuel, repairs etc. Alternatively, if your car is an older car and especially if it's an old banger, you're better off claiming the 40p a mile allowance. This is intended to cover absolutely everything motor related so whilst nothing else is claimable it also means that you don't have to keep hold of all those pesky petrol receipts.

As someone suggested above you can use your past job records to estimate your mileage.

One thing to bear in mind is that once you have started using a particular method to claim back your costs you have to be consistent. You can only change methods upon a change of vehicle.

Although you say that you reckon your expenses are not enough to justify using an accountant, once you start keeping proper records you'll be surprised by just how much you do spend. I cannot urge you enough to keep records of absolutely everything, even if it's just a postage stamp. What about phone calls that you make on your home phone or mobile, it soon adds up. A simple spreadsheet should be able to do it. Just input everything in date order and cross reference it to an invoice or receipt.

As a self employed person the onus is on you to provide records that will substantiate your tax return.

Yes, the revenue will go through your tax return with you if you get it in before the deadline but how willing they are to point out everything you are entitled to claim varies with who you get to speak to.

It's really an art to borrow money. You can make money by borrowing money. How can that happen? The simplest scenario is that you get some loan at 0 APR, maybe for a very short time. You put it in your bank and the bank will pay you some interest. You may argue that you can not borrow a lot of money so you can not make a living by doing that.