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Self assessment tips?

2 replies

audiot · 22/12/2018 17:33

I got an accountant for my first Tax assessment - which was good - earned maybe 25 grand that first year - managed to offset the investment costs -

now need enter year 2 tax return - similar income for that year ( 24 K year 17/18 ) but very little investment -

I guess the only costs I had were gas and electricity ( I work frm home... ) and virgin gamer internet ( 50 quid a month - I need this speed purely for work)

I wouldnt bother about the accountants fee normally - but this year has been terrible due to kids and me breaking my ankle - 8 weeks non weight bearing. I have earned maybe 8000 this year if I am lucky!!

I think I can claim 20% of bills ( for the year where I earnt 24K ) can I claim more for the internet? cos defo spending over the odds on that..

My work is all on the computer - maybe a couple of trips to london to meet potential clients?

any other tips? cos spending 300 quid on accountant is going to break the bank right now!!!!

I wish it could be christmas every daaaay!!!

OP posts:
NewPinkSocks · 03/01/2019 20:58

Can you compare to last years return and see what the accountant claimed re your bills. So that you claim the same.

QueenDoris · 03/01/2019 21:07

Not sure what your business is but you could potentially use 'simplified expenses' www.gov.uk/simpler-income-tax-simplified-expenses

HMRC may be able to offer advice if you ring them up. They also run various webinars offering advice for the self employed

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