Tax time UK
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- rasko4
This is the first time I've put in for an entire year, last time was about a half year.. I wonder what the damage will be?
Whats an average amount for an averagely busy freelancer in London, I wonder if anybody would fess up to what they have ended up paying in the past?
Go on!
- mimeartist0
For side projects its going to be about 2k :(...
But don't know if i can assign tax benefits from dividends against it...
Also donig it online for the first time which looks traumatic!
- mimeartist0
PS first year of extra income.
- rasko40
ok ta
:'(
more! give me more clues to my misery!
- mimeartist0
yeah i'm stressing on it too!
as i haven't really got a huge amount of expenses to go against it all
- rasko40
I'm stretching the boundaries of 'expenses'
- RoomFive0
erm... aren't we supposed to declare income/expenses etc in April?! shit have I got this wrong? first year of freelancing :/
- vespa0
can't you even declare clothes as expenses?
or does that not help..?
- moth0
i guess clients wouldn't want you turning up naked.
- paraselene0
clients probably WOULD want vespa to turn up naked.
you, on the other hand... i'm suggesting clothing...
- doddster0
dude you do know that you make payment on account as well, which is 50% again.
So, if your actual tax owed is 2k, you're gonna end up paying nearer 3?
Hope this doesnt hurt too much...
- Dancer0
Roomfive, you should be doing your tax for 2005/06 (earnings upto April 2006) by 31st Jan or you get £100 quid fine, the tax year ends in April not the due date for your tax return.
Vespa, I believe you can, but I haven't. You can even offset council tax, heating and electric if you work form home.
I have just done mine £381. I did only start freelancing in Nov '05 though. I always set aside 20% of what I earn, creates less grief.
Have fun - it's a pain in the rectum
- mimeartist0
What can i officially claim...
our company accountant says I could get into other problems if I start using my home that way?so can i claim clothing / rent / eating at restaurants?
As most of my meetings were at the pub :)
- RoomFive0
Roomfive, you should be doing your tax for 2005/06 (earnings upto April 2006) by 31st Jan or you get £100 quid fine, the tax year ends in April not the due date for your tax return.
DancerCheers Dancer... but I started freelancing in July 2006... so what does that mean I need to do? :/
- rasko40
i claim clothing (but not all, not the speciality gimp suits), a portion of rent, phone, internets, restaurants, some bar bills, lunch, all my travel, etc etc.. chuck a couple of plane tickets in there.
- rasko40
strictly legit of course dear internets!
- rasko40
£381 for 5 months WTF?!?!
BLAGGER!!
- doddster0
oh and this, yeah - they owe ME money
feels sweet!
- Dancer0
£381 for 5 months WTF?!?!
BLAGGER!!
rasko4
(Jan 22 07, 07:29)
Blagger? at least I don't claim my clothes!!!I had over £2.5k in millage as I freelanced in Pompey for a month or so. the drive is a 130mile round trip, that's 650 per week
I wonder who looks here.....:/
- mimeartist0
rasko... I take it you have a full time job too?