Hi everyone,
I run baby classes one day a week alongside my normal job (2.5 days). I started this self-employment in September 2023 and I'm trying to keep on top of business records for when I need to do the dreaded tax return.
How do car expenses work here? I know I can do the 45p per mile flat rate and in reality that might be what I claim, but I'm using the gov.uk tool to see if simplified expenses are the way to go and therefore want to put in the full figures to compare. Would I put in all my car costs (petrol, insurance, repairs, MOTs etc) or my car costs divided by 7 as I only work that one day in my business? Because they're classes at set times on set days, there's no grey area really on how much I use my car for my business.
Appreciate any advice here! Thank you