Housing benefits when self employed

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Original Message Added : 19 May 2010

i have to fill out a housing benefit form because i am self employed and i dont understand it because i have no accounts for the last financial year they want to know

sales/takings/income

vat refunded

enterprise allowance

closing stock

cost of sales

vat paid out

opening stock

gross profit

and all of my expenses i am really confused please if anyone can explain this to me it would be a huge help

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	Simon Seddon from Seddon and Hammons Landscapes
Location :	Wrexham
Joined :	15 February 2010
About :	Gardening/landscaping Free quotes , Free garden design
Contact :	Send Private Message
Posts :	26 ( 9)

Reply : 19 May 2010

I am sure that there are several of us that would be pleased to help but this is virtually impossible without having sight of the form and direct contact with you.

I would suggest that your local Citizens Advice Bureau will be able to help. A face to face meeting with an adviser with the form to hand should help. The CAB will also be able to indicate if there are any other benefits or assistance that you may be entitled to.

Good luck!

Barry

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	Barry John Nudds from Barry J Nudds Chartered Accountant
Location :	Bury St. Edmunds
Joined :	27 January 2010
About :	Chartered Accountant
Contact :	Send Private Message
Posts :	109 ( 46)

Reply : 19 May 2010

thanks very much i think i am getting it now i have gone through every receipt worked out how much has gone out then worked out how much has come in then checked how much i have been paid and how much is in the bank. i was shocked to see it comes in right to the penny hope i have done it right i just worry that i am missing something or doing something wrong

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	Simon Seddon from Seddon and Hammons Landscapes
Location :	Wrexham
Joined :	15 February 2010
About :	Gardening/landscaping Free quotes , Free garden design
Contact :	Send Private Message
Posts :	26 ( 9)

Reply : 19 May 2010

HI

from your website you say you have trading for eight years?

surely you must have submitted a tax return last year?all the information will be on there, if you did it on line just log in and get a copy or speak to your accountants i am sure it would be a simple matter for them to fill out the details for you

Good Luck

regards

Phil

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	lightweight movers from Lightweight Movers
Location :	Gatwick
Joined :	28 October 2009
Contact :	Send Private Message
Posts :	497 ( 122)

Reply : 19 May 2010 - (Edited : 19 May 2010)

sorry i missread your website eststablished 2010, with eight years experince in gardening /landscapeing

if this is your first year trading,

speak to a local accountant for some advise on book keeping,

WH smith's supply a simple book by "collins"self-employed account book. very easy to use and fairly self explanitry

as for the form? (VAT) i am assuming you are not registered just put.. (Not registered) n/a

a little advise ,open a business account with HSBC (FREE for the first 18 months) ,and put every penny you earn in there. no exceptions! take out a business credit card with hsbc (also free for the first 18 months) and buy all your materials fuel loose tools etc on it, but you must pay it off in full each month

now you are left with your pre tax /ni proffit (gross) take off 20% and save it

what is left is your net proffit to spend how you like, if you dont earn enough to pay tax in your first year you can pay yourself a dividend from what you have saved (the 20%)

all the best of luck!

Phil

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	lightweight movers from Lightweight Movers
Location :	Gatwick
Joined :	28 October 2009
Contact :	Send Private Message
Posts :	497 ( 122)

Reply : 19 May 2010

In addition to Citizens Advice Bureau, you can also ask your Local Authority staff to help and contact your Business Link and arrange an appointment with a Business Link Adviser.

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	Aziz Merchant Mba, Fcca, Bsc (Hons) from Southside Accountants
Location :	London
Joined :	31 May 2009
About :	Finance and Accounting Expert
Contact :	Send Private Message
Posts :	312 ( 200)

Reply : 20 May 2010

very helpful advice and many thanks, i am waiting for a appointment to see our local business advice center but the advice on here is easy for me to understand and dont get bogged down with lots of numbers and figures so thanks again for the advice

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	Simon Seddon from Seddon and Hammons Landscapes
Location :	Wrexham
Joined :	15 February 2010
About :	Gardening/landscaping Free quotes , Free garden design
Contact :	Send Private Message
Posts :	26 ( 9)

Reply : 7 Mar 2012

Hi there

I know this is a bit late for you but I'm only just starting up working for myself (I work full time in industry as an accountant). I can work remotely if you are able to email details etc.

Depending on the complexity of your financials I would be willing to do some bits of work for free in return for an appropriate review on here, as it will help me gain more experience and paying clients going forward.

Mel

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	Melanie Conway from Maximise Business Potential Ltd
Location :	Pudsey
Joined :	20 June 2011
About :	Chartered Management Accountant qualified over 9 years
Contact :	Send Private Message
Posts :	6 ( 5)

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