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Urgent self-assessment tax return help! (19)

Adverse_Camber's profile . Adverse_Camber's homepage

Replies

3 Feb 12, 10:54 PM
Adverse_Camber
UK, 3 yrs

Once_upon_a_rhyme wrote:

I would say just put down the fees as income. As long as the expenses are a reasonable amount of money, paid in regard to something that is necessary for the work, then I wouldn't bother declaring them. If you like, drop me a memo saying what the expenses have paid for, and I'll probably be able to say yes, no, or dunno.

I doubt if you have anything to worry about.

I did just that! If I get sent to jail, willya bail me out? ;)

"How the fuck are you going to do that with your eyeballs bouncing off the fucking cement?!"

4 Feb 12, 1:01 AM
Litany
UK(E), 11 yrs

so this period is for 2010-2011 , if I was working in a PAYE job in this period , I am not due to declare as I have already paid the tax right.

Since I started working for myself in september I will declare and pay this next Jan right?

"Litany, a poncy show-off with wit, a camera, and his own teeth *swoon*" Fen "You have some strange taste in music" Me "If I didn't, I wouldn't be half as interesting"
New and Revamped http://www.synthetiklens.com http://synthetiklens.blogspot.com/

4 Feb 12, 10:10 AM
J_o_sh
UK, 4 yrs
Adverse_Camber wrote:
Urgent self-assessment tax return help!

Please, if anybody knows. Deadline's gone, I'm trying to do his return...:(

I cannot find the answer anywhere, but if you get paid as a contractor, x = fees and y = expenses, do you have to declare the expenses payments? I'm thinking logic says no, but I don't want to get it wrong.

My thinking is just do a straight submission of the fees payment, less tax free allowance, job done.

Am I wrong? Heeelllllpppp.

Please?

Declare the fees only. But do be prepared for expenses to be queried if it is a large sum.

J

4 Feb 12, 10:56 AM
wonderer
UK, 5 yrs

I'm no accountant by any stretch of the imagination, but in now a bit about language, and I think there may be some terminological discrepancies causing confusion.

A person's work may result in then having to pay for things which they wouldn't otherwise have paid for - perhaps protective clothing. The worker has extra costs.

Sometimes, depending on the nature of the work contract, an employer or other party will pay the worker an amount to compensate for these extra work-related costs.

The word "expenses" is sometimes used to mean the extra costs incurred by the worker, and at other times is used to mean the money received to compensate for these extra costs.

Thus my "travelling expenses" sometimes means what it cost me to run the car for that journey, and it sometimes means the money I was given to recompense me for those costs. Not quite the same concept, even if it's the same amount.

This English language advisory service is provided free of charge, but I will be grateful for anyone who would like to recompense me for my computer expenses, heating, lighting, clothing and rental of office space. :-)

Hope the tax thing gets sorted AC.

"Wisdom begins in wonder” (Socrates)
"Imagination is more important than knowledge" (Albert Einstein)
Ubi caritas et amor, Deus ibi est. http://www.informedconsent.co.uk/posts/226772/

4 Feb 12, 12:52 PM
Top_Kat
UK(GL), 3 yrs

Also, it may be worth checking out and applying for a dispensation for expenses, this means that you do not have to declare them on the self assessment or returns on the P11D.

When you apply, they last indefinitely although HMRC can check to see if circumstances are still valid. I've had mine in place now for 8 years and have never had them checked or followed up.

You can apply to HMRC ~ take a link at this link http://www.hmrc.gov.uk/paye/exb/schemes/dispensa...

Regards, Kat

"There is a beauty in the strength and determination of a woman who follows her own path, who isn't thrown off by obstacles along the way. There is a beauty about a woman whose confidence comes from experiences; who knows she can fall, pick herself up, and move on" unknown

4 Feb 12, 1:10 PM
Adverse_Camber
UK, 3 yrs

Litany wrote:
so this period is for 2010-2011 , if I was working in a PAYE job in this period , I am not due to declare as I have already paid the tax right.

Since I started working for myself in september I will declare and pay this next Jan right?

Yeah that's right, you won't have to worry til Jan 2013. But get some advice and keep records in the meantime so you don't flip out and miss the deadline!

"How the fuck are you going to do that with your eyeballs bouncing off the fucking cement?!"

4 Feb 12, 1:11 PM
Adverse_Camber
UK, 3 yrs

J_o_sh wrote:

Declare the fees only. But do be prepared for expenses to be queried if it is a large sum.

J

Thank you, it isn't a large sum at all, so I reckon it's gonna be ok. I wasn't looking for the dodgy angle, just aiming for simplicity.

"How the fuck are you going to do that with your eyeballs bouncing off the fucking cement?!"

4 Feb 12, 1:13 PM
Adverse_Camber
UK, 3 yrs

wonderer wrote:
I'm no accountant by any stretch of the imagination, but in now a bit about language, and I think there may be some terminological discrepancies causing confusion.

A person's work may result in then having to pay for things which they wouldn't otherwise have paid for - perhaps protective clothing. The worker has extra costs.

Sometimes, depending on the nature of the work contract, an employer or other party will pay the worker an amount to compensate for these extra work-related costs.

The word "expenses" is sometimes used to mean the extra costs incurred by the worker, and at other times is used to mean the money received to compensate for these extra costs.

Thus my "travelling expenses" sometimes means what it cost me to run the car for that journey, and it sometimes means the money I was given to recompense me for those costs. Not quite the same concept, even if it's the same amount.

This English language advisory service is provided free of charge, but I will be grateful for anyone who would like to recompense me for my computer expenses, heating, lighting, clothing and rental of office space. :-)

Hope the tax thing gets sorted AC.

I know wonderer, tis a minefield of obscure lingo...I tried to read the 250 page "short guide" (!) but it made me fall asleep...:)

"How the fuck are you going to do that with your eyeballs bouncing off the fucking cement?!"

4 Feb 12, 1:14 PM
Adverse_Camber
UK, 3 yrs

Top_Kat wrote:
Also, it may be worth checking out and applying for a dispensation for expenses, this means that you do not have to declare them on the self assessment or returns on the P11D.

When you apply, they last indefinitely although HMRC can check to see if circumstances are still valid. I've had mine in place now for 8 years and have never had them checked or followed up.

You can apply to HMRC ~ take a link at this link http://www.hmrc.gov.uk/paye/exb/schemes/dispensa...

Regards, Kat

Ah, thank you for that...I reckon that's going to be really helpful when our business gets off the ground.

"How the fuck are you going to do that with your eyeballs bouncing off the fucking cement?!"

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