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daz1977

Re: tax return
« Reply #40 on: January 03, 2010, 11:31:04 pm »
for the mileage claim

Motoring expenses
You can deduct the cost of using your car for business purposes. There are two ways of working out how much you can deduct:

a fixed rate for each mile travelled on business, using our fixed mileage rates
the actual expenses, worked out using detailed records of business and private mileage to apportion your recorded expenditure


The amounts to use are:
• car or van 40 pence a mile for the first 10,000 miles
25 pence a mile thereafter
• motorcycle 24 pence a mile
• cycle 20 pence a mile.

this is off the gov web site

Helen

Re: tax return
« Reply #41 on: January 04, 2010, 09:26:08 am »
Okay. Dont shoot me down in flames for asking this, but ;-

Will the Inland Revenue notify me when i need to file a tax return? I first registered on august 6th/8th????? i have paid one lot of national insurance. and im guessing the next lot will be about due?

I thought i could do my own book,s but looks like i might need a bit of help & guidance so i will probably go to see an accountant this week.

Ryan have only skimmed through the replies so this might have already been said :)
If you need clarification about Inland Revenue issues then phone them and ask. They don't bite and they are humans not aliens ;D
When you first registered S/E with them you should have got a S/E pack from them and most of your questions will be answered in that.
Paying your tax bill.... put away money towards tax from day one!On your first tax return you will be liable to pay tax from that tax year plus half up front of the next tax year. So many get caught out by the statement"pay no tax in the first year".....you do , but one lump at the end of that tax year. The half up front will be based on what the previous years figure was.
Good luck