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CM Club: Tax return help needed please

4 replies

SammyK · 28/07/2009 11:18

Please help! I really want to get this sent off (it will be my last piece of cm'ing paperwork).

My question, for turnover amount, do I put my gross income for the year? Or my total income minus 10% wear and tear?

I have to put in my turnover, then take off allowable expenses and any capital allowances so am I right that the turnover amount is the one when 10% W+T has been taken off. I have done this form many times before and I just can't remember.

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atworknotworking · 28/07/2009 11:24

epends if you have income from any other source.

If you just have income from CM then you will need to put the gross figure of all monies you got from CM, then take off allowable exp's to get Net figure and work out your taxable income, as the 10% W&T is an allowable deduction this is taken off your gross income figure, but before all other exps. IYSWIM.

Katymac · 28/07/2009 11:30

Turnover is the whole amount

10% W&T is in 'other expenses' I think it's called

But it is an expense

SammyK · 28/07/2009 11:32

I'm sorry DS is in my face doing a WallE monologue , I'm going to have to come back in five minutes.

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SammyK · 28/07/2009 13:48

I just have CM'ing income for last year so less complicated thankfully!

Am going to pop into tax office in town I think and ask them to go through each box on the form with me . DS very aspie recently (just had a major meltdown) and I feel overloaded, can't seem to think co-herently at the moment!

Thank you both fo your advice.

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