Tax Relief (Self Employed)

Meeko · 23-01-2008, 01:42 PM

Hi guys,
Does anyone have any loopholes for tax relief on certain things... Some things in question... I brought a suit so I can look professional at meetings and stuff... can I get away with putting that down as business expense and not have to pay tax on what I paid for it? Also I'm doing driving lessons at the moment.. can I put that down as training and not pay tax on it? I'm pretty sure I can put down wholesale directory subscriptions as tax relief?

Cheers,

Mike.

**greedyboy** · 23-01-2008, 01:47 PM

You can claim on business subscriptions but not the other stuff

**MustHaveMobiles** · 24-01-2008, 02:25 AM

Speak to an accountant..

Meeko · 24-01-2008, 09:41 AM

Do accountants give free information? What about phone credit... I'm currently on pay as you go... can I avoice Tax on business phone calls via my own personal mobile?

**greedyboy** · 24-01-2008, 09:59 AM

Accountants do not work for free. You can claim a percentage unless you have two. One for business and one for personal. In that case you can claim all of the business phone.

You don't physically claim the tax back, your phone becomes an expense which is deducted from your profit.

Meeko · 24-01-2008, 10:38 AM

Thanks Greedyboy... One other query...

I only became self employed on August 6th 2007. I havent recieved any self assessment forms to declare my tax and earnings (due back before 31st Jan i believe). I called HMRC and they said I dont need to fill one in till next year as the tax year runs from April to April... Surely that means that next year when I fill in a self assessment it will be a year behind? Is that how it's supposed to work or has there been a confusion somwhere?

Thanks for the help.

Regards,

Mike.

**hardwareheroes** · 18-05-2008, 06:21 PM

Yes, schedule d income tax is calculated in arrears