tax, book keeping and all that....

fin · Post by **fin** » Fri Apr 07, 2023 6:17 pm

sure i asked last year..... ive just done my last years accounts. file full of receipts. bank statements, invoices and spread sheets.

ney more of this please....

also from now doesnt it have to be done online?

so what do you lads use? a mate of mine has reccoommended pandle as the software to use.

oz0707 · Post by **oz0707** » Fri Apr 07, 2023 7:02 pm

Spreadsheet and an accoutant. Dont bother with special software

Rorschach · Post by **Rorschach** » Sat Apr 08, 2023 4:03 pm

Spreadsheet but I keep on top of it. Receipts I do about once a month and payments I do as soon as they come in. Tax return takes me less than an hour and that includes tidying up the spreadsheet, printing and submitting.

Tom d'Angler · Post by **Tom d'Angler** » Thu May 04, 2023 6:35 pm

Rorschach wrote: ↑Sat Apr 08, 2023 4:03 pm Spreadsheet but I keep on top of it. Receipts I do about once a month and payments I do as soon as they come in. Tax return takes me less than an hour and that includes tidying up the spreadsheet, printing and submitting.

Same. Even with me and Mrs d'A operating as a partnership, the partnership return plus my personal return, plus her personal return takes me less than an hour. The partnership return is done on paper, as I refuse to pay for the expensive and unnecessary software (e.g. QuickBooks) that HMRC insist you have if you want to file that particular return online, but our personal returns are done online.

If you know how to use a spreadsheet then you don't really need an accountant, as long as you keep everything simple and up to date. I spend less than half an hour every Friday entering my receipts and expenses on my spreadsheet and I automatically get a P&L at the end of every month.

fin · Post by **fin** » Thu May 04, 2023 11:09 pm

but whats all this making tax digital craic then?

Tom d'Angler · Post by **Tom d'Angler** » Fri May 05, 2023 2:47 am

fin wrote: ↑Thu May 04, 2023 11:09 pm whats all this making tax digital craic then?

HMRC want us to do it digitally because it’s easier and cheaper for then but, for now at least, they know that not everyone is able to do that.

Ktuludays · Post by **Ktuludays** » Fri May 05, 2023 5:25 am

I was under the impression it was to be digitally submitted next tax return. Is that not right? Are they not enforcing it?

Tom d'Angler · Post by **Tom d'Angler** » Fri May 05, 2023 11:55 am

Ktuludays wrote: ↑Fri May 05, 2023 5:25 am I was under the impression it was to be digitally submitted next tax return. Is that not right? Are they not enforcing it?

I can't see anything on the HMRC website that says returns will have to be submitted online by a certain date and there is still an option to request a paper return form, although you have to phone them for that so they'll probably keep people on hold for hours on end so they give up and file online instead.

Neelix · Post by **Neelix** » Mon May 08, 2023 9:32 pm

Happy reading

https://www.gov.uk/government/publicati ... ax-digital

Tom d'Angler · Post by **Tom d'Angler** » Tue May 09, 2023 5:20 am

Neelix wrote: ↑Mon May 08, 2023 9:32 pmHappy reading

Interesting. I can't see how they can force people to use certain software. I expect Labour will change the law again when they (almost inevitably) enter Number 10 in a couple of years.

Rorschach · Post by **Rorschach** » Wed May 10, 2023 2:41 pm

Tom d'Angler wrote: ↑Tue May 09, 2023 5:20 am
Neelix wrote: ↑Mon May 08, 2023 9:32 pmHappy reading
Interesting. I can't see how they can force people to use certain software. I expect Labour will change the law again when they (almost inevitably) enter Number 10 in a couple of years.

Maybe they'll raise the 45p mileage rate, it's not like motoring costs have increased in the last 13 years or anything.

Tom d'Angler · Post by **Tom d'Angler** » Wed May 10, 2023 2:54 pm

Rorschach wrote: ↑Wed May 10, 2023 2:41 pm it's not like motoring costs have increased in the last 13 years or anything.

I don't bother with that. As my van is sign-written I put 100% of the expenses through my books.

Rorschach · Post by **Rorschach** » Wed May 10, 2023 7:43 pm

Not all of us can justify that! lol.

I only do about 1.5k business miles and it's all done in our personal car.