Personal Taxation advice

[chellawson]

hi everyone,

Need a bit of advice on personal taxation. My dad has ask me to take over doing his books for him, ive just done his tax return and am now doing his year end, he has given me his account from previous years but at the bottom of his accounts it has "written down value brought forward" for van and car which is fine, it also has "writing down allowance 25%" which im not sure about and also " first year allowance 50%" but this is on three years worth of accounts. Can anyone offer some guidance?

I was looking at this book Personal Taxation Tax year 2009 2010 would this be a the correct book to buy?

Michelle

[Jaydee]

ive just done his tax return and am now doing his year end

How did you do his tax return if you are not certain about the writing down allowance?

[Batra Ventures UK Limited]

+1 Jaydee

Are you sure you are the right person to handle his books/accounts?

[MyAccountantOnline]

hi everyone,

Need a bit of advice on personal taxation. My dad has ask me to take over doing his books for him, ive just done his tax return and am now doing his year end, he has given me his account from previous years but at the bottom of his accounts it has "written down value brought forward" for van and car which is fine, it also has "writing down allowance 25%" which im not sure about and also " first year allowance 50%" but this is on three years worth of accounts. Can anyone offer some guidance?

I was looking at this book Personal Taxation Tax year 2009 2010 would this be a the correct book to buy?

Michelle


Hi Michelle

You could try and read up and learn about capital allowances - HMRC's website may help a little but why not just get an accountant to do this bit?

If you havent dealt with the capital allowances correctly the tax return wont be correct.

If the accounts are all done a simple tax return wont be expensive if you choose the right accountant.

[elainec100@cheapaccounting]

hi everyone,

Need a bit of advice on personal taxation. My dad has ask me to take over doing his books for him, ive just done his tax return and am now doing his year end, he has given me his account from previous years but at the bottom of his accounts it has "written down value brought forward" for van and car which is fine, it also has "writing down allowance 25%" which im not sure about and also " first year allowance 50%" but this is on three years worth of accounts. Can anyone offer some guidance?

I was looking at this book Personal Taxation Tax year 2009 2010 would this be a the correct book to buy?

Michelle

with respect can I ask how you have done the tax return without doing the year end?

[chellawson]

Sorry my mistake, I completed the VAT return as have been doing the year ended. Have been reading the HMRC website and with some other advice have nearly completed the year end. Its a very basic set of accounts I wasn't sure on the write down allowance etc.

My dad is confident I can do it and I just needed a little guidance that I was on the right track.

Thank you for your advice.

[elainec100@cheapaccounting]

I assume that you are registered with HMRC for providing accounting services?

[MyAccountantOnline]

If you haven't registered with HMRC have a look here -

http://www.hmrc.gov.uk/mlr/getstarted/register/asp.htm

[appyammer]

When you don't need to register with HMRC as an Accountancy Service Provider


You don't need to register with HMRC if any of the following apply:

You're in business as an Insolvency Practitioner. You'll be supervised by the Insolvency Service instead.
You provide tax advice or accountancy services on a non-commercial basis, for example within your own organisation rather than to a third party. You're outside the scope of the regulations because you don't provide these services as your business.
You provide certain payroll services that don't include tax advice or accountancy services.
Could item 2 be relevant>

[chellawson]

Yes I am registered with HMRC and have my PI insurance.
As I said I was just looking for guidance but I have done it now.

Thank you for your advice

Michelle