Help with taxes/HMRC

[Becca@PolishedToPerfection]

I've just registered self employed as I'm starting in a salon next week renting a room. What do I have to do now? I know I have to keep receipts of everything I buy and appointments. The salon I'm working in does all the appointments through an app so should I write it down and keep a record for myself? Also say I charge someone £20 and it costs me £2 to do the treatment. Do I tell hmrc I've learnt £20 or £18? Can I claim for petrol to and from work? How far back can I claim for business expenses? If anyone has got any advice it would be greatly appreciated!! X

 

[Grace_Hair]

Have an incoming and an outgoing on a spread sheet or paper etc.

Your incomings would be whatever you charge your clients.

Your outgoing is rent, products etc etc.

I THINK you can claim for your car but not to and from, because if you were employed you'd still make that journey. What you can claim for it going from work to wholesalers. Or if you do anything away from the salon like weddings, courses etc.
I THINK you can claim a couple of years back. For instance I claimed for my college kit which was a year or 2 before I went SE.

You can also claim home for office, laundry, clothes as long as they are logoed.

I'm not sure how it would work for the appointment app as you should really be making the appointments yourself as SE.

 

[squidgernetball]

You declare your earnings to hmrc, and show your expenditure. So if you have a busy month and you take £500 you show that in that month you took £500. If you go to the wholesalers 3 times at a 30 mile round trip each time, you write down wholesalers with dates and total your miles at 45p per mile, so you would show expenses of mileage as 90 x 45p. You would then put in your expenses everything you bought at the wholesalers.

Vic x