OT looking for basic accounts software as going self-employed

[dennis]

Spreadsheets are not the correct tool for record keeping, you want a database. You can use a spreadsheet to analyse the data in the database.

[Murmansk]

Thanks everyone for those replies, comments and useful information

[newshound]

After I retired from full time employment but continued doing a small amount of consultancy I found HMRC very relaxed about claiming for a couple of laptops and a printer. But I actually chose not to try to claim for phone, car, office as in my case the business "costs" were relatively trivial. I didn't bother with an accountant. Basically I live on my pensions, the work is just beer money. Well, decent claret and burgundy money.

Certainly worth doing in some cases. My wife doesn't pay tax but it isn't worth constructing the story in our case. OTOH one of my kids runs a small business and his wife is about to deliver their first-born. Not worth her while going back to minimum wage work later, better to do unpaid record keeping on benefits and eventually take a salary for it, up to the tax threshold.

[Bill Wright]

But remember that any increase in the value of the house during the period you claim this will result in a tax bill eventually.

If it's a car and you have no other car, better to claim a stated proportion of the running costs (and show your working). Otherwise they'll come to you years later with a demand, which you won't be able to contest.

Same thing as the car. It has to be 'wholly and exclusively' for business use for you to claim on 100%.

No. Consider a partnership.

Every business expense in fact, as long as it's 'wholly and exclusively' for business use. Otherwise claim a proportion. Advertising, internet costs, website design, phone, mobile phones, AA membership, professional association membership, insurances, trade magazines, postage, stationery, the lot.

Bill

[Graeme]

In message , Bill Wright writes

Absolutely. I said earlier that I consulted an accountant as soon as I became self employed, so at least I knew what I was aiming at with accounts, and had a guide as to what could, and could not be claimed against tax. Agreed that only a proportion of household costs can be claimed. I think my figure was 8 or 10 per cent, or thereabouts. Every little helps.

[Tim Lamb]

In message , Graeme writes

VAT not mentioned so far.

For agriculture with most outputs zero rated and tax on inputs fully claimable it makes sense to join at almost any level of turnover.

For a modest handyman operation with a proportion of cash payment, charging customers an extra 20% will not grow the business. Other benefits such as VAT allowance on vehicle fuel may not pay off either. I haven't looked recently but the assumed non business use far outweighed our actual consumption:-(

[Dave Plowman (News)]

It's where a decent accountant helps. He will know what the IR will pass 'on the nod' for each profession. Saving you both a great deal of work.

[Bill Wright]

But if your property value goes up a lot during the period you can end up losing out.

Bill

[DICEGEORGE]