05 Jun 2016

A question about : Tax return help please

Hello all, I hope someone can help me with filling in the final parts of my tax return, I started my hire business last year and that is the problem, when I come to filling in the money spent I have added it all up, lumped everything in together, so that all the stuff I hire out and all the business cards, rental charges for stalls at events etc etc, then I have popped in the amount I have made, ok so got a deficit there of quite a bit APPROX 3,000 ( I know crap at business right?) have no idea of what to put for the Annual investment allowance, Allowance of small balance of unrelieved expenditure,other capital allowances, total balancing charges, where you have disposed of items for more than their value, what does it all mean? Can someone please tell me in plain english, my head hurts and I am sick with worry! (It's a vintage Hire business, crockery and games, bunting etc)

Best answers:

  • Sounds like you need an accountant - this is exactly what they do :-)
  • Thanks for your helpful reply paddyrg, I managed to fathom it out in the end and have submitted my return.
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