[Sean Dyer]

On wcp

For your expenses, say you use your mobile partly for work do you put down the full amount of the bill??

Or your fuel if you use the car for work and play etc?

How do you go about it , what figures would you put in?

[A+CleaningService]

Thanks for  reminding me ,  I have a book keeping course next week.

[adixon]

I pay an accountant £150 a year to do my books which is deducted from your tax bill so is well worth it
he claims the full amount for my mobile because you need it for your customers to ring you
75% of fuel costs because you use it for personal use aswell

[Sean Dyer]

I pay an accountant £150 a year to do my books which is deducted from your tax bill so is well worth it
he claims the full amount for my mobile because you need it for your customers to ring you
75% of fuel costs because you use it for personal use aswell

But how much do you record ??

100 % then deduct at tax return time , or deduct and record??

[Roy Harding]

When I record my expenses I put 100%, then at the end of the year deduct the private percentage.

Roy

[Sean Dyer]

When I record my expenses I put 100%, then at the end of the year deduct the private percentage.

Roy

thanks roy

[Sean Dyer]

so would you put down say car insurance, phone bills etc full amounts into wcp each time you pay them for your accounts?

[Roy Harding]

Yes I would.

Also with car or van expenses I put them down under different catergories like diesel, repairs, serviceing etc. Put the whole lot down then at the end of the year, when you do your profit and loss sheet, then take off your private percentage.

Roy

[adixon]

its so much easier with an accountant he claims for all sorts of things that you wouldnt think of
claim a percentage of the finance on my car, fuel, mobile,internet ,clothes,materials,computer, broadband anything and everything saves you a small fortune wouldnt do it again myself not worth the hassle

[Clive McDonald]

I don't know if you have ever done a return online, but i try as nearly as possible to follow that structure.

[Roy Harding]

Next month I start my 27th year there is very little in the way expenses that I dont claim for. And if you keep your records upto date daily very little work. I have used a few different accountants over the years and some have made basic accounting errors.

It cost me just under £15 using fast tax.

http://www.ftax.co.uk/

Roy

[Sean Dyer]

why cant you just put down everything you can personally think of?

besides the issue here isnt doing my own filing its "book keeping" what do i record?!

I will use an accountant as one of my mates is one!

just not sure what to record

the only trouble is when you record loads of things the profit the software throws up is off....

[Roy Harding]

You put down everything relating to your bussiness.

Motoring expenses
cleaning materials
ladders
Staionery
postage
bank charges
water rates
staff wages

So anything that you need for bussines accounting software, ink, pens

Others will add to the list there are loads

Roy

[A+CleaningService]

It is best to keep tabs yourself, or hire a book keeper for a few hours a month.

You don't want to wait a whole year to find out what your true wages are??

[John Walker]

For a small one man business, the easiest way to claim for vehicle allowance is to claim on a mileage only basis.  I believe it is currently 41p per mile.

Just keep a basic spreadsheet recording daily business mileage and hand it to your accountant at the end of the year.

I would suggest an initial meeting with your accountant and take his advice.  Don't wait until year end and find you've not done it correctly.

[Clive McDonald]

what are the advantages of ftax over just using the revenues online form?