Accountant or online tax??

[jotommo]

hi just read another thread and got me thinking??
i hada salon a few years nacka nd an accountant did my books for £500 a year,
now self empolyed since sept! doing mobile i thought i would do my own books, would you advise this?? i am only working 3-4 days tops and not earning a fortune,
also is that 5k rule right, that i only pay tax on money earned after that??
thanks xx

 

[Missy G]

Hi there ,Id highly recommend to do it on line if your only doing nails part time, as long as your organised with your paper work its pretty straight forward.If you give your local inland rev . a call they should be able to book you on a free course to show you how its all done.I done mine for the year before last ,last year,and Ive nearly completed mine this year for last year .The good thing about doing it online is you get a longer deadline,and you get a sum of what you owe or dont owe :lol: straight away in front of you.

Yes I think it is £5K you can earn before you get taxed(4,5or6)somebody else could probly confirm that.I do nails part time,and my first year of online tax ,I got a rebate!!well chuffed!!

 

[jotommo]

great thanks. is it straight forward then?? i do know what i need to keep and what i claim back (uniforms, car, stock, ) ect, x

 

[Missy G]

Id definatly book the course if I was you , its free and it only for about 4 hours.You might learn a few things you didnt know,....I did...its up to you ,and if you do get stuck you can always ring the Inland Rev and they will talk you through it.

 

[jotommo]

aw thanks hun
i'm off tommorow so will give them a ring
ta again xxxxxxxxxxxxxx