Tax help

[Combsandbrushes]

Hi all. Just a wee quick question. When it comes to doing ur self assessment tax return what do u put in to claim on? A few girls at work told me that they claim for everything eg.. cleaning products they buy for their house they put through as business, mileage for their car, their mobile fone, wine,make up etc loads of stuff. The only stuff I put through is my stock that I buy,business cards, generally stuff that I am buying for my work. As I am too honest with what I’m putting through. But I’ve got a massive tax bill whereas they have next to nothing. Just would like people’s reviews. Thanks in advance.

 

[salonfrog]

Hi

Have a read through the link below. The general rule is that you can include any expense that is "wholly" and "exclusively" incurred in running your business.

https://www.gov.uk/expenses-if-youre-self-employed

 

[Combsandbrushes]

Thank u. Il have a wee look through it. Just doesn’t seem fair that some people can work their way round it and hardly pay a thing lol

 

[salonfrog]

I guess some people take their chance.
Personally, I think it’s better to sleep well at night without the worry of an HMRC inquiry.

 

[Combsandbrushes]

Yeah I totally agree too. Fed up of emails and txts from hmrc telling me I’ve still to pay! I know that I’ve still loads to pay u don’t need to tell me [emoji23]

 

[rippersroo]

Hi
I have always done my own accounts but for this year I have decided to get an accountant. They can tell you what you can claim as expense. There’s a few things I didn’t know I could claim for and things I’ve been told before that I could claim but I actually can’t-
For doing your books at home classed as “working from home” eg-when you’re writing down your weekly income/expenses, you can claim £10 a month. This is apparently up to 100hrs a week, if you done more than this working from home you can claim £18 a month.
Mileage at 45p per mile only counts when travelling to wholesalers/to buy stock etc.
Mobile phone counts if you use it for work.
If you buy stuff on a credit card and only what you’ve bought on it is work stuff you can put the interest down as an expense.
You can’t claim for make up/massages/treatments that you have on yourself.
As if the girls you work with claim wine [emoji23][emoji23] you do not need wine to work!! I thought I may be able to claim my lunch but then I’ve got to eat if I’m at work or not so that is not an expense either.
Don’t forget work clothes, shoes, stationary, cleaning products all the things you will use at work are an expense to your business. Hope this helps a bit it’s just what I’ve recently learnt but it’s a really good idea to get an accountant!

 

[Minkeybox]

I claim for the tea & coffee i buy for clients, so if the wine is given to clients then its allowed surely? Xx

 

[salonfrog]

s, so if the wine is given to clients then its allowed surely?

HMRC is usually ok with 'modest' refreshments (which includes a small beer or glass of wine) if its considered just a usual part of the service you offer to Clients. If your expenses start to rack up too much, HMRC may not allow and any alcohol drunk by you or your staff isn't allowable of course.

A bigger concern is if you don't have an alcohol licence and your local council visit you. You may be issued with a hefty fine...