
5th, March 2007, 01:51 PM
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| Member | | Join Date: Mar 2007
Posts: 5
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Re: Tax Quote:
Originally Posted by richtagg You need to declare yourself as self-employed with your local tax office.
You'll have to do that within 2 months I believe.
Tax is easy if you keep good records, and you'll need to even if you get an accountant. You can claim a lot of benefits from the tax man, particularly if you incorporate and become VAT registered. That means you can claim VAT back on purchases you make for your business.
You can claim for transport, clothing allowance, part of your household costs if you have a home office, among other things.
As regards to bank accounts, I think johnep has given you good advice there, it can get very complicated if you only have a personal account.
We have used sageline 50 for years too, very good package. It has gone up in price this year though! I've also used quickbooks and mybusiness-basics which do the same job but are a little bit basic (as the name suggests).
Good luck! |
and where do you find info about what you can deduct from the tax? IR people were not very helpful. is it some kind of secret knowledge reserved only for accountants?
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