Help with Tax return

Discussion in 'Managing Your Business' started by adamangler, Apr 5, 2015.

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  1. adamangler

    adamangler Wakefield Window Warrior
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    Hi, not asking for legal advice just some tips on doing tax return myself, i did my own last year as only do a few grand of work.

    Im using simplified expenses/cash basis

    Got all receipts and online trasactions for expenses.
    Got all bank statements for income paid online



    What i want to know is how do you guys keep records of mileage for van, does it have to be specififc as writing i did 7 mile this day, 16 mile this day. or do you just estimate it over the year?

    also for income payments from custies do you have to document it like this

    5/4/14 mrs soandso 45 brrom lane £!5 cash
    6/4/14 mrs gdfgd etc etc £16 online
    17/4/14 nblah blah £16 cheque



    etc???

    also i what do you do about cash payments that have no receipt?

    i.e if im doing a commercial job i will give them a receipt which i will keep for my records
    but residential customers i dont give reciepts

    Are you SUPPOSED to write down cash recieved on what day from whom and for what?
     
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  2. Green Pro Clean Ltd

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    DO yourself a big favor, go see an accountant, they will give you a free 30 minute consultation and should you use them most are only about £150 per year to do your returns for you, I can earn more than that in the time it would take me to sort out the tax return myself.
     
  3. adamangler

    adamangler Wakefield Window Warrior
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    i will when im full time mate, this year im going to do my own, i only did about 5k last year, maybe ill do 10-15k this tax year.

    Its basically Record all income, record all expenses, van mileage, home use etc im just not sure how detailed it has to be. like did 10k in van, estimated 8k business use or like did 8 jobs today it was exactly 3.2 miles to here, 6 miles to there etc

    ill do what i do with everything lol Google the **** out of it
     
  4. RealKidJoker

    RealKidJoker Active Member
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    I've got an excel spreadsheet made up with formulas adamangler for the mileage records if you want me to send you a copy?

    Basically it's got the date, start location, destination, job description, start mileage, end mileage and it works it all out for you. Easy.

    In one of the cells you put in the rate which is £0.45 for the first 10,000 miles then £0.25 there after. It keeps a total for each day and also a cumulative total too.
     
  5. adamangler

    adamangler Wakefield Window Warrior
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    Yes please RealKidJoker . You really do this for every job though? If u had 15 custies a day you have to put went from number 3 tree street to number 6 monkey road 0.7miles ? Surely thats not feasible?

    Also when you take payments for Window cleaning do you just record the amounts taken or the name and address of each custie?

    My email is adam@thompsonprocleaning.co.uk
    Thanks
     
  6. RealKidJoker

    RealKidJoker Active Member
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    No, just every day. Jump in the car and take note of the start mileage. For example say the start mileage was 50000, i'd write that down. I went to Town A, Town X & Town Z for all the jobs that day so i'd write that in the location column and then what my mileage was when i got back home. You'll understand it when you see it. I'll just send it just now for you.
     
  7. shazzy692002

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    My accountant has never asked for my mileage In the over 3 years I have been self employed.

    Also he gives me £600 a year off for my phone. which I don't put thro my business account. Plus £ for using my house etc
     
  8. adamangler

    adamangler Wakefield Window Warrior
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    Youre probably not using simplified expenses shazzy you can use a flat rate for mileage rather than working out insurance, repairs, servicing etc


    Cheers realkidjoker think ive found the same one online
     
  9. Green Pro Clean Ltd

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    Adam, you can claim 45p per mile for the first 10'000 miles then 25 pence per mile there after, this covers servicing, fuel, mot, road tax etc.

    To calculate mileage, my accountant figures out each round say Round 1 is 10 miles I get £4.50 allowance for that but he times it by 3 as I have to go back and collect so I get £13.50 allowances for that day so then that times that by 12 months and so on.

    Mileage is quite simple once you done you round calculation.

    The bonus of an accountant is he will find every last penny for all sorts of things you dont allow for.
     
  10. adamangler

    adamangler Wakefield Window Warrior
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    ok but i dont really have a set round yet, do a lot of one off jobs and leafletting etc.

    i will just do a print out for van and log start of day mileage/end of day mileage with a brief note of where/what for, thanks
     
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