Recent content by HandyRocker

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    HMRC Making Tax Digital

    I'm a handyman, so all I do is fix all the stuff that the builders from 20-30 years ago ******d up. I'm not VAT registered, so doing my quotes is surely far less complicated than for a VAT registered building firm. I just quote for total cost of materials and my labour and that's it. Monzo...
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    HMRC Making Tax Digital

    I opened a Monzo business account. It comes with cloud accounting and it's MTD compliant. Its actually miles easier to use even than my old accounting app. Its fairly basic, but I'm a tradesman/musician (not at the same time!) so my income/expenses are quite straightforward. What I like most...
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    Drinks as business expense?

    Oh and yes I'm a sole trader.
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    Drinks as business expense?

    Thanks for the replies, I reallyappreciate it. I guess my case isn't really covered in the gov advice. Very few of my gigs are one-off, except the odd festival or corporate event or the odd occasion when I would do multiple gigs or a gig, then a stint on sound where I'd be on the go until the...
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    Drinks as business expense?

    Ok, I dont mean I wanna claim my friday night booze up. I wish I even had time for that! I'm a musician. I play gigs in the west end 2-3 nights a week. I can't bring my own drinks into a pub or club, so I usually buy a lime and soda or a coke. Several during the night, since I'm there usually...
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    Stay as sole trader for next year or go Ltd?

    Haha well committing misconduct is part of my job, I'm a musician! But otherwise I don't really plan to do anything other than paint people's houses and sing in their pubs. In all the years I've been doing this, I've never had any issues like that. I'm in my 50s now, and whilst that doesn't...
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    Stay as sole trader for next year or go Ltd?

    Thank you, I'll get on it. Cheers
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    Stay as sole trader for next year or go Ltd?

    So on the face of it, inflation and frozen threshold will likely push me into VAT zone sooner or later, but for the next year or 2 at least I expect to be turning over no more than around £60k-£75k, profits of around £40k. I am a home owner, so LTD liability makes sense on those grounds, but...
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    Repair my van or get rid of it?

    Ironically that's what I have always done until now. For years I would always buy a 10 year old Mondeo Estate and fix it if it was worth it, or scrap it and get another one. Most often, I could service & fix it myself. In 10 years I think I spent less on those than I did just for the damn...
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    Repair my van or get rid of it?

    Thank you!
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    Repair my van or get rid of it?

    I'm guessing I just do the capital allowance as normal for 24-25, then calculate the loss for 25-26? Of now course minus what I've already claimed 23-24 and 24-25?
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    Repair my van or get rid of it?

    Duh of course! Whilst I'd rather not have to lose the car, it's quite a relief to know at least I can do that. Thank you so much, I really appreciate this.
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    Repair my van or get rid of it?

    Sorry, yes even tho I did explain it's actually a very big car in the op, i probably should have said that in the title. So if I sell it now, I can claim the loss for 24-25?
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    Repair my van or get rid of it?

    From what I researched at the time, is said that cars are allowable when using cash basis, but not if you're using simplified expenses. Since I'm recording the actual expenses, it should be allowable? I really do hope I got that right anyway! For the mileage that I do, I would actually have...
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    Repair my van or get rid of it?

    Thanks so much! Wow, so that'll be quite a big figure then. I expect to get around £5k for it as it is. So I calculate £14k, minus £5k, minus the £588 that I already claimed? Final figure is £8,412, so I then do x0.8 of that because its 80%business use? Leaves £6729
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