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Tax return - help!

5 replies

Novicenewbie2 · 07/01/2018 23:55

Hello! I need some help. Am self employed for first time ad filling out my tax return. For the last tax year I did not earn very much and my DP had to help me out and transfer money to my account to help meet bills and rent. Is this 'income' as such and do I need to declare it?

OP posts:
Bourdic · 08/01/2018 00:02

No - income when you're self employed is what you've earned ( plus for example things like interest and share dividends if any)

Novicenewbie2 · 08/01/2018 00:28

Thank you! That makes sense! I've also discovered something annoying. When I claim my expenses my company reimburses me and pays it into my account. But it looks like earned income but it's not. How do I show that it's not income?

OP posts:
Jon66 · 08/01/2018 00:38

I think there is an expenses box on the form under the income from employment section.

TalkinPeace · 08/01/2018 17:29

Novice
HMRC never see your bank account.
Put the correct numbers on the form.

Bourdic · 08/01/2018 22:28

As for expenses - all I do is keep the invoice that details the expenses claim and payment. The actual amount you’re paid for expenses does not figure at all in the income you declare to HMRC

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