Pre-Holiday Rush

The HMRC workshop on completing the SelfAssessment Tax Return for the Self Employed Sole Trader was Very useful. I thought I knew what to do, it was nice to be to make sure before I launched into it.

Conclusions:

* using a room in your house as an office is not without problems – I had not considered the implications of claiming part of the council tax re: capital gains and business use down the line. They recommend that you don’t do it.

And I shall have to work out just how much time is spent each day in this room on personal/business.

* you can claim 100% for new equipment straight away. Nice one. My desk top computer needs to be replaced soon.

* the special rules for authors on averaging etc are great when the Mills and Boon payment schedule does not match the tax year

* I will NOT be able to complete my return OnLine- which is a shame – but there are two many complex factors involved.

* notes on everything you ever wanted to know and all of the forms are on the website and you can download them all and print off what you need.

Especially: Self Employed Extra PagesThe Short Form and notes on how to fill it in, and lots more.

All that is for when I return from hols. I am off to Richmond and then London today, so busy, busy.

So I leave you with this splendid engineer – Theo Jansen and a fine example of what creative thinking can do.

Lesson? If they give you ruled paper to write on – write sideways. Happy days. 🙂

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