What you use for tax

[mark2788]

We've always done our own tax and used bank statements as it shows every in and out, what do others use?

 

[Cghwindowcleaning]

An accountant and business banking are what I use makes it much easier.

 

[rugbywolf]

We've always done our own tax and used bank statements as it shows every in and out, what do others use?

It's not just your in and outs, but your allowances and other claims against your tax, such as depreciation etc. Always worth using an accountant; as they say, he'll 'save you more than his fee'.

 

[mark2788]

We include the allowances we are allowed using hmrc site, I know an accountant might save you tax but it can still be done using the statements etc right?

 

[Dave B]

Tax?????

 

[mark2788]

Yh it's this really annoying thing where people take away alot of your money!!

 

[Dave B]

You have to be a bit more clever

They only take a little of my money

 

[Damo J]

Stupidly i registered in march, just befote end of tax year. Do i have to bank money ive made? Or is it enough just to keep a book of what ive made and my expenses? Im new to this so please be kind if this is a dumb question.. Lol

 

[mark2788]

Think if you keep books that'd be ok, we use bank statements as alot of customers pay into it and it's easier to track everything, I needed a mortgage so had to show everything, even if you had a bank account you can do as daveyboy said and keep some back in cash, depends how serious you are as it can be easier with an account to pay all bills etc

 

[Dave B]

I log all my received payments as it is the nature of the job to always have a couple hundred quid or more cash on me it gets spent as needed so doesn't all make it to the bank so i need to log it rather than just pay it all in

Pita to pay i to bank just to take back out what i need

 

[Damo J]

Cheers. All my work is cash, ive only ever had one custy put money straight into my bank which ive also noted down. Wages from my other job i use to pay bills etc, money i make from this i just spend when needed and save the rest. But now ive registered i wasnt sure if i had to put what ive 'made' in the bank for proof.