income tax

[wongers]

this is a bit random;, i run my own business and i'm filling my tax return in at the moment i'm o.k. with most things but i'm not sure what percentage of the toal cost i can claim for my van in my personal expenses can anybody help me cheers:hmmmm2:

[stuckylad]

get a good accountant m8,i think there is a cap on most things you can claim now.

[firemouth]

this is a bit random;, i run my own business and i'm filling my tax return in at the moment i'm o.k. with most things but i'm not sure what percentage of the toal cost i can claim for my van in my personal expenses can anybody help me cheers:hmmmm2:

Pay someone who knows what they are doing. strangely, thats what legit businesses do.

[caveman_nige]

Call HMRC and ask them mate, my accountants do mine and i just leave it to them as they are worth the money and get me what i can and keep the HMRC away..


http://search2.hmrc.gov.uk/kbroker/hmrc/contactus/search.ladv?sr=0&as=1&cs=ISO-8859-1&sc=hmrc&sf=&sm=0&nh=50&ha=34&tx0=49664&fl0=__dsid:&tx1=2042&raction=view

[wongers]

Pay someone who knows what they are doing. strangely, thats what legit businesses do.

i am a legit business you tit i'n just trying to do my own tax return

[chroma]

i am a legit business you tit i'n just trying to do my own tax return

This is why they have Masters Degrees in Accounting and Finance.
Even then most accountants i know still have problems with navigating the system.

I figure if it takes 5 years to learn how to balance books then it must be more complex than my puny mind can tollerate, hence the reason i went via an agency for all my Inland Revenue stuff when i was self employed.
Even then i still had the tax office pestering me.

[wongers]

thats exactley why i'm having a go myself i'v been let down by 2 different accountants over the last few years so i figure if i have a go myself and fill the form in online at least i'v only got my self to blame, i'v been able to find some information from another site and have copies of my old tax returns so i'm going to give it a shot ,the original post was just to pick up any info i could what i dont need is d*ckheads like firemouth insinuating that i'm some kind of shady character

[bobwill]

I pay an accountant to do my books but I had to do my sons accounts when he got in a muddle and could not afford to pay anybody, and it was not to hard to do. At one time you could give all your books to tax office and they would sort it out for you but I expect thats been stopped now.
Normally I have found the tax office very helpful unless they are doing an investigation on you then they are bastards, but I got a tax rebate at the end of my investigation

[wookie12]

I claim for everything to do with business ,but if you use it for personal use you have to work out as a percentage of what you use it for and only claim that percentage off your tax, they can ask for proof so it helps if you keep a mileage chart showing where you went for which mileage.

[Timmaa]

If I were you I'd try to invest my time and effort in finding a really good accountant. Do you have any friends/associates who are self employed or small business owners who you could talk to? My understanding from friends is that a good accountant will save you as much money exploiting the legalities of the system than he will cost doing the work for you.

[melloned]

:beerglass: I'm a half of a partnership in a small precision engineering business , establshed 11 yrs and we used to
have a book keeper who at the years end , submitted our accounts to a chartered accountant for pass off with the revenue.
Totally pissed off with threatening letters and fines for late
returns over 4 yrs , we binned him and went with a proper chartered accountant .
He charges approx ?2000 per year and in the time he's saved us 20 times that .
His first observation was that our last book keepers advice had cost us at least ?25,000 each over the 4 yrs we'd used him.
Life's tough enough trying to keep a small business afloat at present , without persecution by the revenue !
If you want his company address , i'll mail it to you .

[wongers]

thanks everyone (except you know who )i'm going to give it a go myself but do appreciate the advice you've taken the trouble to give me