Jokes4 mins ago
Accounting/tax Simple-Ish Question Suggestions For Blog?
2 Answers
Good evening all,
I am self employed offering accountancy and tax services. I have started a blog where I answer questions that would be set by those running businesses, but written in plain english.
Future customers get some free information and as a result, it gets my name out there. If nothing else, I am actually enjoying writing them. Don't worry, I hold back so I do have something to charge for!
I am looking for some suggestions for questions to answer. Perhaps they are genuine accounting or tax questions you have thought of while running a business.
The questions I have answered so far are:
Should I file a UK self assessment tax return?
I run a business, can I pay myself a wage/salary?
Am I trading or is it a hobby?
What is capital and revenue expenditure?
What is this tax free personal allowance?
I have qualifications to enable me to answer the questions.
Thank you in advance!
I am self employed offering accountancy and tax services. I have started a blog where I answer questions that would be set by those running businesses, but written in plain english.
Future customers get some free information and as a result, it gets my name out there. If nothing else, I am actually enjoying writing them. Don't worry, I hold back so I do have something to charge for!
I am looking for some suggestions for questions to answer. Perhaps they are genuine accounting or tax questions you have thought of while running a business.
The questions I have answered so far are:
Should I file a UK self assessment tax return?
I run a business, can I pay myself a wage/salary?
Am I trading or is it a hobby?
What is capital and revenue expenditure?
What is this tax free personal allowance?
I have qualifications to enable me to answer the questions.
Thank you in advance!
Answers
One of the most common questions (of that sort), here on AB, is: "What are the pros and cons of trading as a limited company instead of as a sole trader?" Another possible question might be: "I'll be selling secondhand goods which I've purchased from members of the general public. (i.e. not from VAT- registered traders). How do I calculate the VAT which I'll...
23:11 Fri 03rd Feb 2017
One of the most common questions (of that sort), here on AB, is:
"What are the pros and cons of trading as a limited company instead of as a sole trader?"
Another possible question might be:
"I'll be selling secondhand goods which I've purchased from members of the general public. (i.e. not from VAT-registered traders). How do I calculate the VAT which I'll have to pay to HMRC?"
(Remember that you'll need to check that the secondhand goods don't include vehicles, as the rules are different for motor traders).
Another possibility:
"I understand that I can submit vehicle expenses to HMRC either on the simple basis of 45p per mile for the first 10,000 miles (and then 25p per mile over 10,000 miles) or by recording all of my expenses for fuel, insurance, servicing, etc, individually. What are the pros and cons of the two systems?"
One more (which I've known HMRC staff to get wrong!):
"I'm the sole director of my own limited company. Do I take my pay from my profits and declare it on self-employed basis or do I have to get my company to pay me via PAYE as an employee of that company?"
. . . and yet another:
"I'm filing my online tax return and I see that I can use the "cash basis" for doing so. What are the pros and cons of doing it that way?"
"What are the pros and cons of trading as a limited company instead of as a sole trader?"
Another possible question might be:
"I'll be selling secondhand goods which I've purchased from members of the general public. (i.e. not from VAT-registered traders). How do I calculate the VAT which I'll have to pay to HMRC?"
(Remember that you'll need to check that the secondhand goods don't include vehicles, as the rules are different for motor traders).
Another possibility:
"I understand that I can submit vehicle expenses to HMRC either on the simple basis of 45p per mile for the first 10,000 miles (and then 25p per mile over 10,000 miles) or by recording all of my expenses for fuel, insurance, servicing, etc, individually. What are the pros and cons of the two systems?"
One more (which I've known HMRC staff to get wrong!):
"I'm the sole director of my own limited company. Do I take my pay from my profits and declare it on self-employed basis or do I have to get my company to pay me via PAYE as an employee of that company?"
. . . and yet another:
"I'm filing my online tax return and I see that I can use the "cash basis" for doing so. What are the pros and cons of doing it that way?"
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