Dieseldoforme:
Herongate:
You are very rude..
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I’m rude… pot kettle black… you’re the one preaching at others that don’t follow your way, and saying bs to everything!!
Fallmonk:
Quick question IF you are self employed and claiming the tax back at the 45p or 25p rate from the Tax Man do you need to have buisness Insurance ■■?
You don’t “claim back” the 45ppm. It just reduces your tax liability.
Its a bit more complicated than this, but to put it very simply:
Lets say you have yearly gross earnings of £30,000
Deduct your annual tax free allowance, lets say £8,000 for a single man, that would leave £22,000 to pay tax on.
However if self employed you can also deduct various expenses some of which have been mentioned. i.e. 45p per business mile, stationary, uniform, ppe, laundry, accountancy fees and many other things. Lets say £100 a week x 48 weeks = £4800.
£22,000 - 4,800 = £17,200 So now you only pay tax on £17,200.
As said, its a little more complex, but that’s the basics of how it works.
The above example assumes you’re a sole trader, much more complex if a Ltd. co.
Self employed basic rate NI is not tax deductable but its only about a tenner a month.
Not sure what you mean by “business insurance”? Liability insurance perhaps? No its not compulsory but its a good idea to have it just as its a good idea to have accident & injury insurance, loss of income insurance & (if you’ve a family very important) life insurance.
Dieseldoforme:
Herongate:
How much do you earn, how much do you claim and how much tax
do you pay on your wonderful PAYE salary…… you keep asking me, but
you won’t say what you on…….
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You are very rude.I earn £615 pw
I claim £496 per 4 weeks subsistance
I pay £62 pw tax
I pay £41 pw NI
I bank £512 pw
I have 6 weeks paid holiday pa.
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£496 in subsistence. Please tell me how you can claim that much?
I’ve been told I can’t claim for subsistence unless its an actual out of pocket expense backed with a receipt. My packed lunches don’t count. There fore it would have to be an unexpected purchase etc. that is on umbrella who I would have thought would have me claiming everything??
stevo101:
£496 in subsistence. Please tell me how you can claim that much?
Sorry - that’s an average 4-week claim for everything.
Correct - packed lunches do not count but there should be no limit of £5 for
a meal if you have a genuine receipt.
False economy? - You pay out a fiver and pay £1.45 less tax . . .
Save even more money and stick to your packed lunches.
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Thanks for the clarification. I thought I had missed a trick here. 
Dieseldoforme:
Conor:
If anyone has the names of any accountancy firms that specialise in looking after self employed drivers, I’d be grateful.
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Give Sandra a ring at Book-keeping & Payroll Services, 07799 427485. What she doesn’t know about tax would fit on the head of a pin with room to spare and she should be charging double what she does. Its like she has the entire HMRC tax allowance book in her head sometimes. The more you do, the cheaper it is as she bills by the hour and she can set you up with software to do it at home and then send in to her.
Fallmonk:
Quick question IF you are self employed and claiming the tax back at the 45p or 25p rate from the Tax Man do you need to have buisness Insurance ■■?
Absolutely. Unless you commute to a SINGLE place of work you need business insurance, EVEN AGENCY DRIVERS ON PAYE as commuting on a policy is to a single place of work.
On most insurance policies, business insurance which basically covers you to travel to and from clients and not for profit, is free. I’ve never paid an additional premium for it.
As an example, I have a 2010 Ford Mondeo. I’ve a clean license, 18 years NCD. I do 8,000 miles private, 7,000 business miles and my renewal fully comp was £184.
Conor:
Fallmonk:
Quick question IF you are self employed and claiming the tax back at the 45p or 25p rate from the Tax Man do you need to have buisness Insurance ■■?Absolutely. Unless you commute to a SINGLE place of work you need business insurance, EVEN AGENCY DRIVERS ON PAYE as commuting on a policy is to a single place of work.
On most insurance policies, business insurance which basically covers you to travel to and from clients and not for profit, is free. I’ve never paid an additional premium for it.
As an example, I have a 2010 Ford Mondeo. I’ve a clean license, 18 years NCD. I do 8,000 miles private, 7,000 business miles and my renewal fully comp was £184.
Does the OP mean business car insurance I read it as liability insurance not motor
Funny how whenever you need the countires TOP lawyer, Accountant or Brain surgeon - you’ll find one on here.
[Give Sandra a ring at Book-keeping & Payroll Services, 07799 427485. What she doesn’t know about tax would fit on the head of a pin with room to spare and she should be charging double what she does. Its like she has the entire HMRC tax allowance book in her head sometimes. The more you do, the cheaper it is as she bills by the hour and she can set you up with software to do it at home and then send in to her.
[/quote]
where is this Sandra based and what s a rough estimate of her charge for the year if she does all the work
Google results from the phone no. suggest she is in Bridlington. However book keeping services can be done remotely by post or electronically.
Some people pay accountants to keep books. Talk about over qualified and over paid lol.
nedflanders:
[Give Sandra a ring at Book-keeping & Payroll Services, 07799 427485. What she doesn’t know about tax would fit on the head of a pin with room to spare and she should be charging double what she does. Its like she has the entire HMRC tax allowance book in her head sometimes. The more you do, the cheaper it is as she bills by the hour and she can set you up with software to do it at home and then send in to her.
where is this Sandra based and what s a rough estimate of her charge for the year if she does all the work
[/quote]
give Sandra a ring and ask her 
cause I am too lazy to pick up the phone
Conor:
Dieseldoforme:
Conor:
If anyone has the names of any accountancy firms that specialise in looking after self employed drivers, I’d be grateful.
.
.Give Sandra a ring at Book-keeping & Payroll Services, 07799 427485. What she doesn’t know about tax would fit on the head of a pin with room to spare and she should be charging double what she does. Its like she has the entire HMRC tax allowance book in her head sometimes. The more you do, the cheaper it is as she bills by the hour and she can set you up with software to do it at home and then send in to her.
might do that, £72 + vat per month I was quoted from an accountant during the week ffs 