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I'm beginning to think i should just remove all trace of the car and fuel from my business as it seems it would be less stressful . but i feel i must perservere as i need to save as much on my tax bill as i can .
I rang the tax office but they just confused me further she said to estimate my proportions and then fill my return in
but with how strict the tax man is i dont want to just plough in estimating away then find out i'm going to get fined as I needed to be accurate.
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There was a case here in the UK a over a year ago when fake notes were bought by a holidaymake at a Post Office. But this case of the German bank is worse, interesting that they did not contact the police...
Doesn't seem very prudent to carry on as usual when you've got so much fake dosh, plus if they really knew and cared seems like they would have set that money to the side while they "investigated" it.
Having said that, you must have invoiced your customers and as you'll have a copy from which you can construct from them your likely journeys & mileage. But in any case you should have been claiming mileage whilst using your private vehicle (e.g. 40p per mile). If not, why did your accountant not tell you that, maybe its time to consider a change!
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.
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Last year I set up self employed in april as a gardener i was useing my personal vehicle for a short while then i purchased a car for £500 and spent roughly £400 on repairs servicing etc.
then last month i realised is wasnt suitable for my business so i purchased a newer vehicle for £1400 .
the problem is that although i have got every reciept for the fuel repairs and the cars i purchased while i have been in business, i havent kept an accurate record of what my business milage is. what would your advice be on how to deal this in my business accounts and on my tax return.
As i don't have a record of my business milage for the first two cars i used I am unsure as to wether or not put them on my return or wether to just remove it from my business accounts and just class it all as a personal expense?
I'm not earning a great deal at the moment and the cost of the diesel and repairs/servicing is a considerable percentage of the expenses for the year so if there is a way of sorting this out i'd be much appreciated.
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There are two things to sell, goods or services. You have to sell either something people can use or provide people some service. One obvious service any people own a website is advertisement. Everyone can put advertisement on their web. By doing so, they are providing a service--advertisement.
