self employment info (1 Viewer)

grafter

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Hello scaffs just about to go self employed can anyone tell me what can you claim back for and if use car to and from work can i claim back money and what proof will i need of useing car will i have to use insurance documant or just put in petrol reciepts.

And is it better or worse than being employed

thanks
 
you can claim for fuel cost for travel to work and back, vehicle repairs, work clothing, loose tools, mobile phone, landline, stationery, postage, computer, use of a room as an office at home, also you can claim for depreciation on your vehicle which goes down as an expense.

depends really if you just work for one company or you a sort of freelance where you source your own work.

hope this helps
 
you can claim back quite a lot mate tools training clothes for wearing at work food money travel expenses (there is a limit to them tho) dig money etc. the tax man can give u a list of everything you can claim back dont know if its on website. as for proof u just need reciepts or bank statement to back up what u are trying to claim back. citizens advice are helpfull with regards to this also....in case tax man trys to fob u off!!

hope thats a help!!
 
Grafter try contacting a few local tax consultants near to you,they may give you a free half hour consultation for you to get yuor questions answered,if so it will only cost a phone call,good luck to you mate:laugh:
 
when you say "self employed" I assume your going from PAYE to what they used to call a CIS4, now you don't get a CIS card you get a UTR number.

you can basically claim for anything that you use in the course of your business. that's clothes, tools, you can claim a part of your home as an office (i claim office costs of £250 pa). you can claim all your accountancy fees, you can claim for digs if your working away and up to a £5 a day meal allowance. you can claim for any computer items printers you use for business, any office furniture etc. you can claim your mobile bills, part of your braodband and telephone if its also used for home use etc. by that I mean if you use the internet to look for jobs, send invoices etc, you could claim 50% of the total cost of your braodband back.

Cars

you can claim transport in one of two ways. You can claim a capital allowance for your vehcile, say £5000, then you claim tax relief against that. then you claim for your insurance tax etc,

OR

Mileage

you claim 40p per mile for the first 10 000 miles, then claim 25p a mile after that. that covers mainteqnce, tax, petrol etc. it's better to do it this way if your car isn't worth a lot.
you can also claim bus/tube fares etc

you must keep your records for six years and if you do get investigated (highly unlikely but it could happen) and you can't account for the claims you've made, you will have to pay back any rebate they have given you.
 
i would have to say its a lot better being self employed you get a decent tax rebate and if you work for the same company for 12 weeks or more your classed as a WORKER and are entitled to holiday pay anyway so best of both worlds
 
i would have to say its a lot better being self employed you get a decent tax rebate and if you work for the same company for 12 weeks or more your classed as a WORKER and are entitled to holiday pay anyway so best of both worlds

Is that right about working for the same company for 12 weeks and getting holiday pay? Didnt know that. I have been working on a self employed basis for the same company for about 2 years now!
 
you have to be careful now, if you work for the same fimr too long, HMRc will class you as employed, the firm will then eb forced to put you on PAYE - they call it cracking down on "bogus self employment". Also with being on CIS, you ahve no rights, then can get rid of you no notice period, no redundancy, your responsible for supplying all your wet weather gear, ppe etc.

i've been CIS fro 10 years now and prefer it like that, but the way thing sare going, i'd say your better off on PAYE if you can get on a decent firm. there is talk of them hiking the tax rate up from 20% back to 25 like in the old SC60/714 days, whether ti will happen or not i don't know
 
As paddy mentioned...go and see an Accountant...they will usually give you a free consultancy, also try and see one recommended by your mates/peers etc.
 
hiya,

bit late on this, i know, but in case anyone else has similar questions, we're happy to give any free advice you may need :)

There's loads you can claim for and we are experts in claiming back everything you are entitled to.
 
Just noticed Dareng555, when you look quick at your avatar it looks like a rusty sheriffs badge.....-:smile1:
 
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