hmrc self assessment question???

by Lion Thu Sep 14, 2017 7:33 pm

Hi guys could you help me out.

So lets say I'm self employed working for myself no business.

I earn £26,000 for the year.

In that year I buy a new laptop, a phone, a tv ect. Lets say all of this totals £6000

so I have £20,000 left over.

So is the full £26,000 taxable or is only £20,000 taxable???

I ask cause they write that you can't claim expenses for private purchases, but then that would mean they want to tax money that I have spent???

by Tiggy Thu Sep 14, 2017 7:48 pm

Tax is like that, it taxes you on your earnings, after all the majority of people do spend what they earn.

by Guest Thu Sep 14, 2017 7:53 pm

Hi Lion

Yes, by their rules all of your income is taxable - less any legitimate expenses you can account for and 'personal' allowances. They're saying part of the money you spent belongs to them whether you spent it or not.

So are you self-employed - or do you work for yourself?

Cheers!

by **daveiron** Thu Sep 14, 2017 8:11 pm

Hi lion,

My advice would be to get a decent accountant ,he will save you far in excess of his fee.

by Jinxer Thu Sep 14, 2017 8:17 pm

Although I have worked in the past for companies and paid PAYE. I have never ever filled in one of them self assessment forms, in fact I have never even had one sent to me or seen one. Most of my working life I either worked cash in hand or ran my own business, my son does the exact same thing. I don't think I'm entitled to a pension when I'm old enough as I haven't paid enough in contributions though.

by Guest Thu Sep 14, 2017 8:23 pm

Hi Jinxer

Sounds like you work for yourself.

Cheers!

by Phillpots Thu Sep 14, 2017 8:32 pm

So we all still consent then.

by Waffle Thu Sep 14, 2017 8:49 pm

From the figures you've given less than £10,000 is taxable. You have a £10,000 + untaxible allowance, whatever your earnings are knock 10K off then take of all your other allowances, thats what they would be asking for.

If you drive take into account your milage, I saved 12K from my milage, then you have wear and tear for your vehicle tyres etc. You can do a percentage of your phone, a percentage of your electricity bill at home if you've been using your home for ANY type of work, washing.

TBH for 26K you should be able to get rid of most if not all, theres plenty of allowances you can take advantage of.

by Lion Thu Sep 14, 2017 8:59 pm

iamani wrote:Hi Lion

Yes, by their rules all of your income is taxable - less any legitimate expenses you can account for and 'personal' allowances. They're saying part of the money you spent belongs to them whether you spent it or not.

So are you self-employed - or do you work for yourself?

Cheers!

I'm just looking into being self employed

by Guest Thu Sep 14, 2017 9:05 pm

Hi Lion

Well, there's no harm in just looking - but don't forget your due diligence as to your ACTUAL liabilities to T.H.E.I.R. corporation.

Cheers!

by Lion Thu Sep 14, 2017 9:08 pm

iamani wrote:Hi Lion

Well, there's no harm in just looking - but don't forget your due diligence as to your ACTUAL liabilities to T.H.E.I.R. corporation.

Cheers!

Yes I know hmrc is a private corporation.

Is there any remedy to not pay them at all?

by Guest Thu Sep 14, 2017 9:13 pm

Hi Lion

Depends on how far along the mental path to freedom you are fella. How much you think you have to lose or gain is most of it.

Do you know the difference between lawful and legal, and between man and person?

Cheers!

by Lion Thu Sep 14, 2017 9:14 pm

iamani wrote:Hi Lion

Depends on how far along the mental path to freedom you are fella. How much you think you have to lose or gain is most of it.

Do you know the difference between lawful and legal, and between man and person?

Cheers!

Yes.

by Phillpots Thu Sep 14, 2017 9:17 pm

I refer back to what I said earlier.

by Guest Thu Sep 14, 2017 9:17 pm

Hi Lion

Have you checked the relevant legislation as to exactly what liabilities are attached to whom?

Cheers!

by Lion Thu Sep 14, 2017 9:20 pm

iamani wrote:Hi Lion

Have you checked the relevant legislation as to exactly what liabilities are attached to whom?

Cheers!

the liabilities are attached to the "person"???

by Guest Thu Sep 14, 2017 9:26 pm

Hi Lion

That's the impression i get, though i am far from expert in these matters. It seems to be the general consensus though.

Cheers!

by Jinxer Thu Sep 14, 2017 11:06 pm

I'm no expert far from it, I can only comment on experience. When I was around 21 the tax man wrote to me at my mothers address asking what I was doing for a living, or words to that effect. I just ignored them and after a few more letters I didn't hear anymore from them. I've lived in the same house for over 30 years now and have sometimes when times were hard done work for companies and paid PAYE tax but most of the time I did cash in hand work and anything really that made me a living, buying and selling cars, garden clearances and stuff like that. The only thing I ever struggled with was Council Tax, I could never get out of that despite arguing it in Court a couple of times. I've got a student to register at my address now so at the minute I don't have to pay it, but don't know how long that will last.

by Waffle Thu Sep 14, 2017 11:30 pm

is it not our choice to register with HMRC and is it not our choice to stipulate what specie of money we get paid..... If you want to work for yourself then its your choice how you navigate the commercial world.

by **Lopsum** Fri Sep 15, 2017 3:39 am

its one way out of some shit if you are on JSA , to be self employed but low income , even 0 income. This entitles you to tax credits(about same as JSA per week,and other benefits too , rent ,CT)
you if you use part of your home or an outbuilding for your business you can claim 15%(as a base figure,check your usage it could be more) of all utility bills including broadband phone, also you can claim expenses for entertainment and food/drink for the hours you work from home. You can even claim a % of rent for the room/s you use , for eg a 6 roomed house and you use one as an office so 1/6th of your rent can be claimed as expenses. and CT ,. Add that all up per year , you could be in a situation where the business makes a loss after all expenses considered. Very Happy

thats OK

https://www.gov.uk/expenses-if-youre-self-employed

by pitano1 Fri Sep 15, 2017 9:07 am

PROOF OF CLAIM
question no.1
what the fuck.! makes-YOU-think I'm a TAXPAYER.

by **daveiron** Fri Sep 15, 2017 9:08 am

Hi lion,

What waffle & lopsum have posted is correct.

It's simple really ,on a very basic level all you need is to put things in two separate columns,

1. list everything you sell ,(even if its only your time )
2. list everything you buy in order to be able to sell.

The difference between the two totals is your profit ,THAT IS ALL THAT IS TAXABLE .after you have deducted
your personal tax allowance.
I did this for years before changing to a limited company.
Get receipts for everything,they are your proof of purchase .
If you are sensible with your figures the tax man won't bother you.

However remember ,as you are working in commerce you are entering into their world.

by pitano1 Fri Sep 15, 2017 9:14 am

@DAVEIRON
Did you get paid for this work.?
MAXIM.
every workman is worthy of his hire.

by **daveiron** Fri Sep 15, 2017 9:38 am

Hi pitano,

Love your style by the way,

I was just pointing Lion in the direction of what is deemed correct in their world ,and if he is not ready to take on the taxman.

I am however playing with the taxman at present ,its only a small amount of about £ 40.00

I am refusing to pay it because they will not answer a simple question.Which is will this money be used to kill and maim
innocent men women and children in sovereign nations due to their illegal wars and occupations.
They will not answer ,I will not pay.

by pitano1 Fri Sep 15, 2017 10:20 am

daveiron wrote:Hi pitano,

Love your style by the way,

I was just pointing Lion in the direction of what is deemed correct in their world ,and if he is not ready to take on the taxman.

I am however playing with the taxman at present ,its only a small amount of about £ 40.00

I am refusing to pay it because they will not answer a simple question.Which is will this money be used to kill and maim
innocent men women and children in sovereign nations due to their illegal wars and occupations.
They will not answer ,I will not pay.

well fuckum.
one thing to be aware of.
never-ever...refuse outright.
But i expect you,are already aware of staying in honour .
regards.
pitano1

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