V
Validis
Hey guys. Just a quick question here. I have only been self employed since April. I am registered as a Sole Trader under the CIS Scheme. I keep hearing on the radio about how we must now do our self assessments. So I registered for self assessment and was waiting for an activation code through the post.
However, I have been told conflicting things about what I am able to claim back. I have all my receipts for work clothing, equipment, tools, travelcards, etc. But I have been told that I wont be able to claim any of that back because I am not VAT registered. Other people have told me that I am able to claim back on those things, aswell as other things like a small percentage of energy bills, telephone bills for business use etc.
I have also been told that doing my Self Assessment is just to work out how much tax I have underpaid or overpaid, and that has nothing to do with being able to claim back things.
So I am wondering if I should get myself an accountant or not. (If I am not able to claim back anything, then it wouldn't be worthwhile to get an accountant), Or whether I should go ahead an do my self assessment online.
However, I have been told conflicting things about what I am able to claim back. I have all my receipts for work clothing, equipment, tools, travelcards, etc. But I have been told that I wont be able to claim any of that back because I am not VAT registered. Other people have told me that I am able to claim back on those things, aswell as other things like a small percentage of energy bills, telephone bills for business use etc.
I have also been told that doing my Self Assessment is just to work out how much tax I have underpaid or overpaid, and that has nothing to do with being able to claim back things.
So I am wondering if I should get myself an accountant or not. (If I am not able to claim back anything, then it wouldn't be worthwhile to get an accountant), Or whether I should go ahead an do my self assessment online.