self employed/tax

Discussion in 'Carpenters' Talk' started by starlight tiles, Feb 8, 2007.

  1. audi-evo

    audi-evo Active Member

    "my accountant told me food is a no no."
    however you can argue that if it is hot weather and say you have staff unloading a large delivery it is necessary to provide them with cans of pop/bottle of water.
    You can also buy tea/coffe to provide for your staff/customers.
     
  2. cosworth

    cosworth New Member

    golden no offence intended.
    it does make some sense what your saying.guess im claiming for food next year.
    im ignoring my own advice but hey i hate paying tax too.
     
  3. goldenboy

    goldenboy Super Member

    none taken cosworth. I only listen to what my accountant tells me. if its used in the course of your work then you can claim. I claim absolutely everything and reduce my tax to the absolutr minimum.
     
  4. audi-evo

    audi-evo Active Member

    the baest thing to do is claim, they can only disallow it, if you don't claim you're disallowing it yourself!
     
  5. Guest

    Just be careful some accountants will claim against most receipts you give them,but when I drag you in for a talk (and I will for certain one day ) your accountant will look the other way, don't forget the get out clause on your accounts " figures based on clients vouchers and receipts " live beyond your means boys I'll come sniffin.


    Thinking of you always
     
  6. goldenboy

    goldenboy Super Member

    Why is it living beyond your means drag me into your office whenever you like and you try and prove ive broken a law.
     
  7. Guest

    Re: self employed/tax
    Posted: Feb 9, 2007 12:09 AM Reply


    "my accountant told me food is a no no."


    Correct! but if you were I.C.I. turning over £billions easily hidden, put it this way, what about poor me sitting in the Tax office canteen can I claim that back ? no no.
     
  8. Guest

    living beyond your means drag me into your office whenever you like

    If you're not living beyond your means that's fine but if I find your bottom line looks like it can't cover your out goings I will have to give your nuts a little squeeze (nothing personal)
     
  9. prince

    prince New Member

    I claim everything I can. If the tax mand comes knocking, he has to prove beyond doubt that i havent used it for the business. A mates accountant said you couldnt claim road tax from you van back. I do it all myself, its dead easy.
    Providing you have receipts and are not claiming back your home food shopping bill, then Ferk them, they get loads from us anyway.
     
  10. joinerjohn

    joinerjohn New Member

    Some years ago my dad was investigated by the taxman. Taxman reckoned my dad had done them out of £500. Sadly my dad agreed with them ( under advisement from his accountant). Taxman says great! we'll just put on the interest and a bit of a fine to make sure you don't do it again.... Cost him £3250 in total. So beware my friends. From some of the stuff the taxman told my dad , it was obvious they had even followed him in the course of his work. Big Brother or what!!!
     
  11. Why is it living beyond your means drag me into your
    office whenever you like and you try and prove ive
    broken a law.

    The problem with the tax man is you have to prove you're innocent, they just assume every one is guilty
     
  12. Guest

    The problem with the tax man is you have to prove you're innocent, they just assume every one is guilty


    Yea true, several years ago was investigated myself lasted 2 years, result was I owed them £750 but the costs for the accountants for all their letters and meetings came to thousands I also used a tax consultant the man was a genius saved me a fortune .
     
  13. orangeST

    orangeST New Member

    I have been self emplyod for a few months now and havent kept the recipts for a lot of things dose that mean i cant claim it back next year or are you alowed to guestamate things?

    thanx
     
  14. cosworth

    cosworth New Member

    orange st have you got 1, like it????
    its a bit dodgy putting things thru without receipts because how can you prove to tax you have spent it.
    get advice from accountant is best i'd say
     
  15. prince

    prince New Member

    Orange st, I wouldnt even think about trying to guestamate things. If you end up with an inspection, you will be knackered, then they will really go in depth. Keep everything, including getting a receipt from the cashpoint everytime you withdraw money.

    Before I got divorced, I had a business, and I was told to keep every single receipt, even for the kids shoes etc.
     
  16. starlight tiles

    starlight tiles New Member

    so if you buy new tools every year you can claim for thr full amount on them
     
  17. prince

    prince New Member

    Only if you claim them back once. Thats what I do. Then about this time of year I buy some more new tools!!!
     
  18. starlight tiles

    starlight tiles New Member

    so you can buy a full set each tax year.
     
  19. prince

    prince New Member

    Not a new set as such, but thye would find it hard to say you dont need it. Having said that, it would be a grey area if you said you lost some tools on site, and had to replace them.
     
  20. starlight tiles

    starlight tiles New Member

    oh right.what about a new van.
     

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