I'm going to need an accountant

[existentialist]

Well.

That was a lot easier than I thought it was going to be. I've spoken to an accountant, recommended by a fellow Urb, and he has given me some advice which eliminates a great deal of the pain and angst I was expecting, and is willing to help out with the small amount of work involved in sorting it.

Couple of emails to send, and I'm out of the woods.

More power to Urban and its wondrous denizens. When I'm back on my feet - it WILL happen - a suitably grateful donation to the server fund will be in order.

*relieved*

 

[Sue]

Great news! Sounds like it was much less bad than expected. Glad you're nearly sorted.

 

[Puddy_Tat]

a suitably grateful donation to the server fund will be in order

has the accountant advised whether this is tax deductible?

 

[existentialist]

has the accountant advised whether this is tax deductible?

I think we'll cross that bridge when we come to it

 

[DexterTCN]

has the accountant advised whether this is tax deductible?

It could be argued.

 

[UnderOpenSky]

Glad you got sorted existentialist

I'm starting to think I may need the same. I've about managed to sort 2016/17 on my own and got a bit of a surprise how much I owe. Silly mistake I certainly won't be making again. Would like to start getting them sorted in April this time so I know how much I need to save and going forwards make sure I set up a separate savings account.

Does anybody know how much you'd expect to pay for a sole trader? I'm not really selling anything except my labor and that's on top of PAYE work. However this year I'd like to earn more from freelance and do need to buy some kit, but would like some advice about what's considered taking the piss as well as my mileage.

 

[Boudicca]

I'm a sole trader and paid my accountant £276 last year. I do all the sums though and present the figures to him on a spreadsheet, so it's probably only 30 minutes work for him.

 

[UnderOpenSky]

I'm a sole trader and paid my accountant £276 last year. I do all the sums though and present the figures to him on a spreadsheet, so it's probably only 30 minutes work for him.

That's not sounding like a great deal tbh.

I mean I'm sure it's a fair price, but its a few days work for me.

 

[trashpony]

Isn't that worth it to take the headache away? It's not just the 30 minutes, it's making sure you're paying the right amount of tax and that you're claiming everything you should. My accountant costs but I have zero anxiety

 

[UnderOpenSky]

Isn't that worth it to take the headache away? It's not just the 30 minutes, it's making sure you're paying the right amount of tax and that you're claiming everything you should. My accountant costs but I have zero anxiety

Your right I guess. And it is tax deductable. I could just think of more exciting things to deduct from my tax.

 

[trashpony]

Your right I guess. And it is tax deductable. I could just think of more exciting things to deduct from my tax.

I do know! I'm not saying I hand over the cash willingly but I'm really, really bad at admin

 

[Boudicca]

I'm probably exaggerating with the 30 minutes, but my point was that if you turn up with a carrier bag of receipts,then you will be charged more. Last year, they made me go back through all my shopping trips and charge up all the petrol, so they did save me a bit of cash.

To be honest, I think I use an accountant so that if it's wrong, I've got someone to blame.