First ever self employed tax return I'm a nervous wreck
Happy New Year everyone.
Eek I'm a nervous wreck:panic: I've never done a tax return before and don't know where to start, I have a spreadsheet downloaded from the very helpful Happytoddlers and to be honest haven't been updating it weekly, I know I know BAD GIRL not listening to all the help offered on here.
To be truthful there isn't much to fill in either as business is very very slow.
Would I be best buying the pacey accounts book until I am a little wiser to it all and I remember someone once mentioning an accountant on here who specialises in childminders accounts but can't really afford one if expensive at the minute as everything seems to be going out and not much coming in!!
Do I put down my gold membership for childcare.co.uk as an expense only we don't get a receipt for it so how do I prove such memberships etc, I get confused with hours worked and contracted hours, for arguments sake do I add my accounting, cleaning, promoting my business etc into my hours worked as tax credits says only hours actually worked so is it with the children or everything we do in our job? and is it different again for HMRC of how hours are calculated.
Another thing I think I do wrong is from my total income I take a wage instead of working out weekly costs first and then seeing what I can really afford to pay myself, would it look odd if I paid myself different amounts each week depending on outgoings or is that normal or would you stick to a regular amount as an average wage?
PLEASE ANYONE CAN YOU ADVISE ME BEFORE I GO DOLALLY TAP :panic:
As usual sorry for the waffle :)