Webcam girls: items you claim in tax return!

[friendly accountant]

Darn...he might be impressed with the results if he had a show though

Thank you

No problems.... The strict letter of the tax law is those expenses incurred wholly and exclusively in the course of business are allowable. Where you get duality of use, then it starts getting interesting.

[Classy_Katy]

Ahhh...haircuts are out then? My guy is quite expensive but if I didn't do webcam I'd probably go somewhere cheaper...plus there's the cost of dying out the grey when the time arrives!

[friendly accountant]

Ahhh...haircuts are out then? My guy is quite expensive but if I didn't do webcam I'd probably go somewhere cheaper...plus there's the cost of dying out the grey when the time arrives!

Again....in the strict letter of the law....it's a "no-no".... But......

(and that's all I will say on that matter on a public forum)...

full contact details on my website !

[curlytots]

I'm gonna budge in on this conversation - whilst talking to HMRC the other day, they said I don't need to *prove* my income or expenditure when it comes to self assessment, so do I need to keep receipts etc? I buy most stuff online so mostly online confirmations...?

I was going to try and do it myself, as it seems fairly straight forward.

Also - can we can claim for features on AW? I pay for features every day and to be a member of my group.

[friendly accountant]

I'm gonna budge in on this conversation - whilst talking to HMRC the other day, they said I don't need to *prove* my income or expenditure when it comes to self assessment, so do I need to keep receipts etc? I buy most stuff online so mostly online confirmations...?

I was going to try and do it myself, as it seems fairly straight forward.

Also - can we can claim for features on AW? I pay for features every day and to be a member of my group.

Whilst what you was told was correct in the sense that you don't have to send them receipts etc every year to prove your numbers (that's why it's call Self Assessment as you tell them what your situation). You DO have to keep books and records (receipts etc) for 6 years.

Should the tax man ever open an inquiry into your affairs - they would be perfectly entitled (and they do) to ask for receipts and something to back up the income figures.

Link to HMRC website HMRC

If you get inspected and your records don't conform to a standard or they bear no resemblence to your tax return then you will have opened up a big can of worms for the taxman to play in.

Keep receipts and records - it's the only safe way.

[friendly accountant]

I was going to try and do it myself, as it seems fairly straight forward.

Also - can we can claim for features on AW? I pay for features every day and to be a member of my group.

It can be, however it can also get complicated.... is it really worth the hassle sometimes? [ok - it's a blatant plug for my services but that's what us accountants are there for. The amount of clients I have taken on who thought they would do a DIY job and then get stuck at something!]

[Classy_Katy]

I'm working from the figure AW transfer to Payoneer...the cost of my featuring has already been deducted from that (maybe I should work from the total but this is the amount of payment and clearly recorded on AW).

I'm now keeping a record of the cash I withdraw, as that's less after Payoneer's fees and being exchanged to and from dollars. I'm only working from AW and have a file with 12 compartments, I just put my receipts and cash withdrawal slips into the relevant month. I also use a spreadsheet to record my income and expenses, month by month.

I received my Tax Credits form the other day so will be attempting my first tax return this weekend...woohoo! I've seen other people's tax returns and accounts before, been through their books and papers, and docs from HMRC, but never done this for myself before.

[friendly accountant]

I'm working from the figure AW transfer to Payoneer...the cost of my featuring has already been deducted from that (maybe I should work from the total but this is the amount of payment and clearly recorded on AW).

I'm now keeping a record of the cash I withdraw, as that's less after Payoneer's fees and being exchanged to and from dollars. I'm only working from AW and have a file with 12 compartments, I just put my receipts and cash withdrawal slips into the relevant month. I also use a spreadsheet to record my income and expenses, month by month.

I received my Tax Credits form the other day so will be attempting my first tax return this weekend...woohoo! I've seen other people's tax returns and accounts before, been through their books and papers, and docs from HMRC, but never done this for myself before.

For a lot of people their tax return can be a straightforward exercise if they are organised and structured in their approach.

Don't forget to include the non obvious expenses in working out your profit

[friendly accountant]

I received my Tax Credits form the other day so will be attempting my first tax return this weekend...woohoo! I've seen other people's tax returns and accounts before, been through their books and papers, and docs from HMRC, but never done this for myself before.

Katy.. As it's the bank holiday weekend and I am feeling generous.. If you get stuck at all then feel free to get in touch via my website.. Either email or phone and I will gladly help where I can. No fees !... The only caveat is that as you are not a fee paying client then you cannot rely upon anything I say. Whatever I say will of course be correct but you cannot quote me on it. Standard ways of working until you become a client.

The only catch if you find me helpful is that you bung a couple of big gold coins into the next Air Ambulance charity box you see.

Not all accountants are tight with their time!

[Classy_Katy]

I received my Tax Credits form the other day so will be attempting my first tax return this weekend...woohoo! I've seen other people's tax returns and accounts before, been through their books and papers, and docs from HMRC, but never done this for myself before.

Katy.. As it's the bank holiday weekend and I am feeling generous.. If you get stuck at all then feel free to get in touch via my website.. Either email or phone and I will gladly help where I can. No fees !... The only caveat is that as you are not a fee paying client then you cannot rely upon anything I say. Whatever I say will of course be correct but you cannot quote me on it. Standard ways of working until you become a client.

The only catch if you find me helpful is that you bung a couple of big gold coins into the next Air Ambulance charity box you see.

Not all accountants are tight with their time!

Aww...thank you xxx. I really appreciate that.