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1. bryan-g- - Member

   I will never understand tax and cant find anything online. What I want to know is roughly if I earned £19000 ish and with my alowance of £6455 and what I cant find out is if i have £7000 expensise what deductions should I get for that. So what should I be paying roughly.

   Posted 4 months ago #
2. druidh - Member

   What are these £7,000 "expenses"?

   Posted 4 months ago #
3. bryan-g- - Member

   Bought a van and there is fuel the odd tool and general bits here and there

   Posted 4 months ago #
4. b r - Member

   Do you mean that you are self-employed?

   Posted 4 months ago #
5. bryan-g- - Member

   yes im self employed

   Posted 4 months ago #
6. BoardinBob - Member

   http://listentotaxman.com/

   Posted 4 months ago #
7. Trekster - Member

   Worth paying a good accountant if self employed

   Posted 4 months ago #
8. b r - Member

   Then normal PAYE rules don't apply.

   Have you registered as self-employed?

   Posted 4 months ago #
9. bryan-g- - Member

   Yes I kind of know how much I should pay I if I didnt spend anything but its what deductions do you get for expendature.

   Posted 4 months ago #
10. TheArtistFormerlyKnownAsSTR - Member

    bryan-g- - Member

    Yes I kind of know how much I should pay I if I didnt spend anything but its what deductions do you get for expendature.
    

    I believe if it's your first year you may be able to put 100% through your books, rather than having to get complicated with Capital Allowances - might make next year tougher if you do though.

    Posted 4 months ago #
11. bryan-g- - Member

    This will be my third year. I just seem to have been paying a lot the last couple of years.

    Posted 4 months ago #
12. catfood - Member

    Get an Accountant, best money you will ever spend, it is even tax deductable.
    I would imagine you will be able to write off 100% of your tools and van, unless you use your van outside of work. My car is classed as a business vehicle and I get 80% of everything related to it written off, I think this is fairly standard.

    Posted 4 months ago #
13. craigxxl - Member

    You need a good accountant. You do not understand understand the differences between capital and revenue expenditure with their different treatments in arriving at your taxable profit before deducting your tax allowance. £120 for the accountants expertise will be saved in tax.

    Posted 4 months ago #
14. bryan-g- - Member

    I have an accountant I am just checking. Thanks all.

    Posted 4 months ago #
15. craigxxl - Member

    Then use the accountants knowledge, if you don't understand get him to explain how it was arrived. If they don't get a better accountant

    Posted 4 months ago #

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