Annual turnover £15,000 +?

[carolinejd]

Hi,Is anyone able to help me with a self assessment query? It's possible I may earn over £15,000 next year and I'm really worried about my self-assessment. I have always used the NCMA accounts book which lists all allowable expenses and have found submitting my tax return online easy enough.However, I understand that once over £15,000 full accounts must be submitted.I'm not sure what that means.Can I still use the NCMA book? Do I have to have receipts for every penny I spend? Am I still able to submit my tax return online myself or will I need to employ the services of an accountant?Any advice will be gratefully received!

[Chatterbox Childcare]

This is really old information and the £15000 went up to £32000 a couple of years ago and now I believe it is £72000.

[carolinejd]

What a relief! Thanks very much

[MrAnchovy]

It's £70,000 for 2010/11 and will probably rise to £73,000 for 2011/12. Up to this figure, you don't need to split your allowable expenses up at all, not even the wear and tear allowance - include everything as 'Total allowable expenses' (box 19 on the paper return).

[carolinejd]

Thank you ,it's very good to know.I can sleep again now!