Who's panicking about their accounts? 2011/2012

[frankie91]

Thank you all for your help! Your stars! X x

Sent from my GT-I5800 using SalonGeek

 

[Sarah22]

My accountant does columns, like stock, stationery, cleaning etc then a section with receipt name then move across to corresponding column and writes the amount ex vat... Then in a box on the side the amount of VAT on the item, ALWAYS ask for a vat receipt everywhere, do you know you can put through £20 every week for laundry? For wasking your uniform x

I didn't know that... £20 a week just for washing your uniform at home?!

 

[Bluerinse]

I didn't know that... £20 a week just for washing your uniform at home?

Whoops £10 a week for uniform laundry, then your detergent, fabric softener, bounce sheets, air freshners

 

[Sarah22]

I didn't know that... £20 a week just for washing your uniform at home?

Whoops £10 a week for uniform laundry, then your detergent, fabric softener, bounce sheets, air freshners

So I can add £10 a week onto my expenses AND put my receipts of my detergent etc onto my expenses too?!

 

[Redduck]

I used to panic every year until last year when I sat down as soon as I got the paperwork and filed the accounts. Have to say I panicked when I saw this thread though until I remembered it was done.

My challenge to you all is do them ASAP for 2012/2013 - saves no end of stress x

 

[Glitterbox81]

I do mine in April as soon as the piece of paper comes through my door ,my books are done weekly and totaled quarterly ,just a fue bits I add in in April and im done ,no stress

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I do this too. I like knowing in April what I'm going to have to pay in January just in case I've made a stupid mistake in my calculations and get a nasty surprise or something. Plus i'm always terrified it'll get to January and I'll forget to file or something.

Although this year (2012/13) will be my first year as a salon so it'll be a wee bit harder this time. Normally it's just 2 monthly payments from my IT contracts and it's simple. I'm hoping it'll be as straight forward as I'm hoping though- tot up all my purchases, double check them against my receipts, and job's a goodun. Oh and obviously put in my earnings.

 

[Carrie8320]

So just to clarify- I registered as self employed on 1st September 2012- so I don't need to do anything yet. Right??

 

[Bluerinse]

So I can add £10 a week onto my expenses AND put my receipts of my detergent etc onto my expenses too?!

Yes that's correct my lovely :0)

 

[sunshineinme]

My answer for this year was: an accountant. I was still partially self employed and partially office worker which appeared to be too complicated for me to try and do my own accounts x

 

[Natm]

Mine was done it November! Luckily my account sorts it all. I tried to do it myself but I was left blank! Hehe xx

 

[Sarah22]

Yes that's correct my lovely :0)

Wow!! Thanks 😊 xx

 

[Bluerinse]

Wow!! Thanks 😊 xx

Oh and you don't need a receipt from yourself for the washing either xx

 

[Blue Rose]

Am a bit late handing everything over to my accountant so I will be stressing a bit that it gets done in time (although I'm sure it will!)

However, in less than 1/2 an hour I've an agent coming in to do a records check. I'm sure I've got everything done correctly but even still - HMRC....say no more :Scared:

 

[Petit Basque]

Am a bit late handing everything over to my accountant so I will be stressing a bit that it gets done in time (although I'm sure it will!)

However, in less than 1/2 an hour I've an agent coming in to do a records check. I'm sure I've got everything done correctly but even still - HMRC....say no more :Scared:

Well mine was done and handed over to the accountant in early September!! I'm completely useless at Excel and tend to write everything out on record cards and keep receipts etc.....

Blue Rose...why have you got an agent coming over to do a records check?? What triggered that visit out of interest??

PB
x

 

[Miniminx13]

Can I ask please lovelies... When showing you sales (treatments not stock) do you itemise each one or a say a monthly total?

I registered in October 12 so I think I do my first return in April 14 for a partial year..is this correct?

 

[sarahhh123]

I found this useful:

http://www.hmrc.gov.uk/factsheets/expenses-allowances.pdf

 

[millyspook]

Can I ask please lovelies... When showing you sales (treatments not stock) do you itemise each one or a say a monthly total?

I registered in October 12 so I think I do my first return in April 14 for a partial year..is this correct?

No, you need to record everything for the 2012/2013 tax year from 12th October up to and including 5th April 2013. Then, from 6th April 2013 we move into a new tax year 2013/2014. This is for the UK only, can't comment on other countries.

 

[millyspook]

I found this useful:

http://www.hmrc.gov.uk/factsheets/expenses-allowances.pdf

Thanks for this. I didn't realise you could put subscriptions to trade magazines down as a biz expense. I can add my scratch magazine subscription on

 

[Blue Rose]

Well mine was done and handed over to the accountant in early September!! I'm completely useless at Excel and tend to write everything out on record cards and keep receipts etc.....

Blue Rose...why have you got an agent coming over to do a records check?? What triggered that visit out of interest??

PB
x

I have no idea what triggered the visit. I guess they do checks on businesses to make sure they're keeping all the necessary info to fill in accounts/tax returns properly.

 

[angelardn]

Glad I found this. Only registered in October so nothing to worry about till April. So what we file in April or from April we have until next January to pay? X