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Post Info TOPIC: Self Assessment - Sole Trader Expenses
kjsmith


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Self Assessment - Sole Trader Expenses
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I have decided to take on some book-keeping (qualified AAT & ACCA) since having my daughter. I completed my first Self Assessment Form which would have resulted in the guy getting a £950 refund. He wasn't happy with this as he had been told by a Accountancy Practice he could get £2k back although they didn't look at his invoices etc in detail . Anyway my question is I put through everything he had receipts for and % of telephone costs etc, is there anything else I could have put through?

Paranoid now!!

Thanks for any advice  confuse



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Ann-marie


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Hi,

Just out of interest why did he not use the accountancy practice that thought he could reclaim £2k? If they hadn't looked at the income and expenditure I'm not sure how they could have told him this.

If you have followed the form through correctly then I'm sure that you won't have missed anything out. Maybe double check everything to make sure your confident that you haven't missed anything.

Ann-marie

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Ann-marie Kelly

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adi2402


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hard to say, any capital purchases on hp or something you dont know about for AIA, or has he bought any capital items personally.

I'd guess you've done it correctly and the accountants figure was just a rough estimate based on a brief meeting.



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Forgive the typo's I generally do not proof read. Just lazy I guess!
RobH


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I bet this was a guy on CIS??? I took on a couple of new clients a couple of years ago whose previous accountant had unfortunately passed away. I lost them because the previous accountant always got them a huge refund compared to mine but all her figures were made up. I would have subcontractors who had earned £15k in the year and she would put through £6k in motor expenses and one of the guys didn't even drive! Perhaps make sure all capital allowances have been claimed as Adi says , check to see if theer are missing receipts, eg lots of diesel receipts but hardly anything for some months and then put a reasonable estimate in, use of home as office, protective clothing, subsistence/accommodation if applicable, small tools and consumables?

Rob

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Rob
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attilabenko


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Hi,

Any earlier years' losses, AIA, writing down allowance or FYA, enviromentally friendly items qualify for 100% allowance, do you live in assisted area qualifying for business premises renovation allowance 100%, all business expenses calculated correctly?
These are a few of the possible reasons but I have to agree with Adi about the rough estimate.

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Attila
attilabenko


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Hey Rob long time no seen! How are you?

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Attila
RobH


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Hi..not bad. Been away as I had a little fall off my bike and was 'incapacitated' for a bit and then went on holiday! I notice there are a few new contributors about! How are you?

Rob

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attilabenko


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Yes very well. Sorry to hear about your accident but hope your holiday was good. Yes there are a few new people, some really good ones.

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Attila
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