Tax return. What to claim back?

[stusgsx]

Hi, Well todays job has been put back a day so thought I better get my return done!
I have submitted my last 3 years tax returns myself but with the help of a relative but this year It is the first by myself and in my own house. I have never claimed back house bills etc so am unsure what I can claim back?
I only put down materials, van costs, fuel, stationary , phone bill, web hosting.

What else should i be adding?

 

[Saltire69]

if you go to the tax website theres some help on there regarding % of what u can claim

 

[Dan]

I'd stick your house phone, and mobile, a % of your house floor space should be worked out, and then a % of time. So if it's 10% of the house (a room you can call an office) and you use it 10% of the time over a month, you can claim back 1% of your mortgage or rent, gas, electric, water rates, etc.

If you wash all your own work clothes you can get a tax relief for that. If you use a personal vehicle for some of the quotes you do (so you'd not bother get the van out) you can get 35p a mile back for those trips. So even 100 miles a month is 35 quid a month that you should get back for using the car.

I'd seriously consider getting an account to sort your year end out though as they do save you more than they cost in nearly all cases. So it's no brainer IMO.

I've recently sold the sole trader business to the new Ltd company and ended up with some extra gains there for the next 2 or 3 years. So if your business has been steady for a few years, and it looks like you're getting a bigger tax bill due to profits etc, then it might be worth considering going Ltd and using loads of extra tax benefits via dividends, directors loan account, and benefit of the sale too.

If it's a steady income but nothing to shout about then perhaps not worth doing that to be fair as you end up doing more accounts anyway so its swings and roundabouts.

Though I'd say get an accountant, you may find you're paying way too much tax when you're working it out yourself. A sole trader business shouldn't need to pay much tax at all if it's not hit the VAT threshold.

 

[jonnyc]

I'd stick your house phone, and mobile, a % of your house floor space should be worked out, and then a % of time. So if it's 10% of the house (a room you can call an office) and you use it 10% of the time over a month, you can claim back 1% of your mortgage or rent, gas, electric, water rates, etc.

If you wash all your own work clothes you can get a tax relief for that. If you use a personal vehicle for some of the quotes you do (so you'd not bother get the van out) you can get 35p a mile back for those trips. So even 100 miles a month is 35 quid a month that you should get back for using the car.

I'd seriously consider getting an account to sort your year end out though as they do save you more than they cost in nearly all cases. So it's no brainer IMO.

I've recently sold the sole trader business to the new Ltd company and ended up with some extra gains there for the next 2 or 3 years. So if your business has been steady for a few years, and it looks like you're getting a bigger tax bill due to profits etc, then it might be worth considering going Ltd and using loads of extra tax benefits via dividends, directors loan account, and benefit of the sale too.

If it's a steady income but nothing to shout about then perhaps not worth doing that to be fair as you end up doing more accounts anyway so its swings and roundabouts.

Though I'd say get an accountant, you may find you're paying way too much tax when you're working it out yourself. A sole trader business shouldn't need to pay much tax at all if it's not hit the VAT threshold.

just make sure you are allowed to have an official business office in the address you live at before you offset anything against this!

 

[widler]

get a accountant,they know what they are doing,know what you can claim for,will get money back for you if you have tickets and will cost you well under £500,
unless of coarse you a multi million pound tiling company,then it may cost you a tad more