Quick Question Thread

[Stellaboz]

Which old part of Aberdeen? Hopefully not Tillidrone.

[NJ2]

Which old part of Aberdeen? Hopefully not Tillidrone.

Harbour presumably

[Myko]

1 hour ago, coprolite said:

No.

You can't claim a mileage allowance off Hmrc. 45p is what an employer can pay you to cover the cost without it being counted as earnings.

If your employer taxed you on this then they are numbnuts and you need to have a word.

If you want to claim against your self employment you can have actual fuel costs, maybe a portion of repairs and insurance and capital allowances (restricted for personal use).

 

That's £100 please

My full time job is PAYE at a fixed location so that's not an issue. It's my part-time job i do where i receive fees that i'm concerned about. I receive a set fee for the work i do - no mileage or expenses are paid - and this goes in to my bank each month. 

I am not registered self-employed.

[Boghead ranter]

1 hour ago, throbber said:

 

I told you it was 16 th we are expecting why are you getting ahead of yourself?

 

Which could be 2 weeks either side ( unless it's a planned section - even then). Baby come when baby come.

[Boghead ranter]

2 minutes ago, throbber said:

 

I know but he asked me a few days ago and in another thread today.

Not that I don’t appreciate the concern of course.

 

Fair enough.

Get the hospital bag packed and ready, and good luck!

[PB 4.2]

1 hour ago, throbber said:

 

It’s been packed for a week now! And thanks, hopefully it comes sooner rather than later.

 

A day you'll never forget.   It's like a fooking slaughterhouse,  with maternity midwives moping down floor and fanny pads aplenty.   

 

[coprolite]

8 hours ago, Myko said:

My full time job is PAYE at a fixed location so that's not an issue. It's my part-time job i do where i receive fees that i'm concerned about. I receive a set fee for the work i do - no mileage or expenses are paid - and this goes in to my bank each month. 

I am not registered self-employed.

right.

You need to notify HMRC that you have a self employment.  You need to keep a record of your fee income and expenses you incur in earning it. deduct expenses from income and you pay tax on the profit.

If you travel you can claim a reasonable proportion of your motoring costs. I would suggest keeping mileage records (it sounds like you might have) and apportioning business and non business costs. Eg you do 20,000 miles  a year and 4,000 of these for business, you have 20% business use so claim £60 of £300 insurance etc. For petrol use (miles  ÷ your cars reported fuel consumption mpg )× average price of fuel £/g.

claim all your materials stationary etc. as expenses. If you subscribe to any services for business purposes claim those (eg if you bought ms office for powerpoint- but not if you have sky and sometimes watch business related programs). if you get an itemised bill and pay for calls you can claim for phone use, but not if you use inclusive minutes on a personal phone.

 If you use your home as an office for significant periods and incur costs you might not otherwise, you might be able to claim a bit of expense for "use of home as office" a pound or two a week is probably ok. Any more and you would need good reasons, records and calculations.

If you use any kit in your business you can claim 18% of the cost or value as capital allowances.  This is 8% for cars (unless emissions are below.  these percentages reduce for personal use ( in the car example above, you would be claiming 20% of the 8%, 1.6%. This is on a reducing balance, so in year 2 you claim 18 % of 82% etc. introduce pre existing assets at market value.

there is also an annual investment allowance up to £100k where you can expense the whole cost of equipment (not cars) that is entirely for business. if it's not entirely for business get professional advice (or don't bother unless it's worth at least a few hundred- the advice will cost more than the tax saving)

 

see, tax isn't dull

[coprolite]

2 minutes ago, coprolite said:

right.

You need to notify HMRC that you have a self employment.  You need to keep a record of your fee income and expenses you incur in earning it. deduct expenses from income and you pay tax on the profit.

If you travel you can claim a reasonable proportion of your motoring costs. I would suggest keeping mileage records (it sounds like you might have) and apportioning business and non business costs. Eg you do 20,000 miles  a year and 4,000 of these for business, you have 20% business use so claim £60 of £300 insurance etc. For petrol use (miles  ÷ your cars reported fuel consumption mpg )× average price of fuel £/g.

claim all your materials stationary etc. as expenses. If you subscribe to any services for business purposes claim those (eg if you bought ms office for powerpoint- but not if you have sky and sometimes watch business related programs). if you get an itemised bill and pay for calls you can claim for phone use, but not if you use inclusive minutes on a personal phone.

 If you use your home as an office for significant periods and incur costs you might not otherwise, you might be able to claim a bit of expense for "use of home as office" a pound or two a week is probably ok. Any more and you would need good reasons, records and calculations.

If you use any kit in your business you can claim 18% of the cost or value as capital allowances.  This is 8% for cars (unless emissions are below.  these percentages reduce for personal use ( in the car example above, you would be claiming 20% of the 8%, 1.6%. This is on a reducing balance, so in year 2 you claim 18 % of 82% etc. introduce pre existing assets at market value.

there is also an annual investment allowance up to £100k where you can expense the whole cost of equipment (not cars) that is entirely for business. if it's not entirely for business get professional advice (or don't bother unless it's worth at least a few hundred- the advice will cost more than the tax saving)

 

see, tax isn't dull

almost forgot. if your fees are over £75k you will need to think about registering for VAT

[Boghead ranter]

1 hour ago, coprolite said:

right.

You need to notify HMRC that you have a self employment.  You need to keep a record of your fee income and expenses you incur in earning it. deduct expenses from income and you pay tax on the profit.

If you travel you can claim a reasonable proportion of your motoring costs. I would suggest keeping mileage records (it sounds like you might have) and apportioning business and non business costs. Eg you do 20,000 miles  a year and 4,000 of these for business, you have 20% business use so claim £60 of £300 insurance etc. For petrol use (miles  ÷ your cars reported fuel consumption mpg )× average price of fuel £/g.

claim all your materials stationary etc. as expenses. If you subscribe to any services for business purposes claim those (eg if you bought ms office for powerpoint- but not if you have sky and sometimes watch business related programs). if you get an itemised bill and pay for calls you can claim for phone use, but not if you use inclusive minutes on a personal phone.

 If you use your home as an office for significant periods and incur costs you might not otherwise, you might be able to claim a bit of expense for "use of home as office" a pound or two a week is probably ok. Any more and you would need good reasons, records and calculations.

If you use any kit in your business you can claim 18% of the cost or value as capital allowances.  This is 8% for cars (unless emissions are below.  these percentages reduce for personal use ( in the car example above, you would be claiming 20% of the 8%, 1.6%. This is on a reducing balance, so in year 2 you claim 18 % of 82% etc. introduce pre existing assets at market value.

there is also an annual investment allowance up to £100k where you can expense the whole cost of equipment (not cars) that is entirely for business. if it's not entirely for business get professional advice (or don't bother unless it's worth at least a few hundred- the advice will cost more than the tax saving)

 

see, tax isn't dull

All that to deliver pizzas.

[GordonD]

1 hour ago, Boghead ranter said:

All that to deliver pizzas.

[Swarley]

Quick one.  How much did Sevco end up getting off the Chinese for thon Colombian boy?

€16.90

 

[Honest_Man#1]

Has anyone tried curing fish at home? Raw/cured fish is possibly my favourite food, but unsure about how safe/easy it would be to do at home.

[Sergeant Wilson]

28 minutes ago, Honest_Man#1 said:

Has anyone tried curing fish at home? Raw/cured fish is possibly my favourite food, but unsure about how safe/easy it would be to do at home.

If you have any blind neighbours, they'll think you've opened a brothel.

[Shandon Par]

2 hours ago, Melanius Mullarkey said:

Quick one.  How much did Sevco end up getting off the Chinese for thon Colombian boy?

Be a shame for him when they cut him open to retrieve all the charly sewn into his abdomen. 

[Brother Blades]

Has anyone tried curing fish at home? Raw/cured fish is possibly my favourite food, but unsure about how safe/easy it would be to do at home.

I have, it’s quite easy on fatty fish like salmon.
Salt & sugar mix, I also add white peppercorns (toasted) & citrus rind & a little chopped coriander, mix everything together & place fish on a bed of your mix & cover thoroughly, it needs to be quite thick “crust” cover with cling film & place something relatively heavy on top,I use a casserole dish. Then you wait for 2-3days, if the fish in not firm to the touch or you can still see moisture, back in for another day. It’s delicious.

[Myko]

5 hours ago, coprolite said:

right.

You need to notify HMRC that you have a self employment.  You need to keep a record of your fee income and expenses you incur in earning it. deduct expenses from income and you pay tax on the profit.

If you travel you can claim a reasonable proportion of your motoring costs. I would suggest keeping mileage records (it sounds like you might have) and apportioning business and non business costs. Eg you do 20,000 miles  a year and 4,000 of these for business, you have 20% business use so claim £60 of £300 insurance etc. For petrol use (miles  ÷ your cars reported fuel consumption mpg )× average price of fuel £/g.

claim all your materials stationary etc. as expenses. If you subscribe to any services for business purposes claim those (eg if you bought ms office for powerpoint- but not if you have sky and sometimes watch business related programs). if you get an itemised bill and pay for calls you can claim for phone use, but not if you use inclusive minutes on a personal phone.

 If you use your home as an office for significant periods and incur costs you might not otherwise, you might be able to claim a bit of expense for "use of home as office" a pound or two a week is probably ok. Any more and you would need good reasons, records and calculations.

If you use any kit in your business you can claim 18% of the cost or value as capital allowances.  This is 8% for cars (unless emissions are below.  these percentages reduce for personal use ( in the car example above, you would be claiming 20% of the 8%, 1.6%. This is on a reducing balance, so in year 2 you claim 18 % of 82% etc. introduce pre existing assets at market value.

there is also an annual investment allowance up to £100k where you can expense the whole cost of equipment (not cars) that is entirely for business. if it's not entirely for business get professional advice (or don't bother unless it's worth at least a few hundred- the advice will cost more than the tax saving)

 

see, tax isn't dull

Cheers for all that mate, will take it all in to consideration. It's only a few K we're talking about so shouldn't take long to work out. I can filter earnings via my online banking and I have a record of all my journeys which constitute to around a quarter of my car's overall yearly mileage. Apart from that I spend around £10 a month on stationary/equipment costs. I sometimes pay for parking but don't have proof of this.

Thanks again.

4 hours ago, Boghead ranter said:

All that to deliver pizzas.

I wish it was that simple !

[Hedgecutter]

"Don't be horrible to Alan Myko, he doesn't avoid tax, he only evades tax... no, it's the other way around, oh shut up!"

 

 

[Honest_Man#1]

44 minutes ago, Brother Blades said:

I have, it’s quite easy on fatty fish like salmon.
Salt & sugar mix, I also add white peppercorns (toasted) & citrus rind & a little chopped coriander, mix everything together & place fish on a bed of your mix & cover thoroughly, it needs to be quite thick “crust” cover with cling film & place something relatively heavy on top,I use a casserole dish. Then you wait for 2-3days, if the fish in not firm to the touch or you can still see moisture, back in for another day. It’s delicious.

Cheers. The main worry is that I do it wrong and end up shitting my pants for days, but I’m assuming if I go to a decent fishmongers then I should be okay.

[Honest_Man#1]

1 minute ago, Bairnardo said:

You will be absolutely fine with curing, if you want to eat raw fish you probably best go somewhere and get sushi-grade stuff. Having said that, like you I love this type of stuff and always have a wee slice off a bit of most fish raw before I cook it. Never has done me any harm. 

How do you know if it’s sushi-grade? Are there specific fishmongers that do it?

[welshbairn]

3 minutes ago, Honest_Man#1 said:

Cheers. The main worry is that I do it wrong and end up shitting my pants for days, but I’m assuming if I go to a decent fishmongers then I should be okay.

Don't think a fishmonger would appreciate you shitting there either. Ha Ha Ha...