accounts

[shazza]

would like advise on accounting - I am a mobile hairdresser, I have been told I can manage without an accountant as it is just me. I am registered self employed and pay ni contri. I have been told I can claim 40p per mile for use of car but can't put any other car bills thru ie services etc. can I claim anything for work clothes and do they just want to see sales for the week or do you have to list money into business client by client ???

 

[HairByAlly]

Hiya
Im so rubbish at this that i made my dad help me! he bought me this accounts book from staples and it has a list of things like fuel/clothing etc and i just put in how much i spent on each that week and work out how many miles i travel and how much money i can claim back. i also keep all my recipts and if i buy hair extensions/products etc..i think you can also claim on washing detergent and things like that aswel for your towels. i think if you go to HM Revenue & Customs: Home Page there is a bit on it with all the information :biggrin: Ally xx

 

[shazza]

thanks will look on their site

 

[SJK]

You can either claim 45p per mile (for this tax year) for every business mile you do, or work out what percentage or miles your car does for business e.g. 50% of car use is business, and then claim that percentage on ALL car related bills such as petrol, service, MOT, insurance etc.

 

[HairByAlly]

I didn't know you could do that! Which is better? X

 

[SJK]

VERY roughly speaking, it should average out. However, I think the 45p per mile is the easier way to do it, because it saves working out the capital allowance on your car.

Either way, you need to keep a very accurate record of total and business mileage for your car.

 

[HairByAlly]

A right you learn something new everyday! Thanks! X