Member Since: 8th May 2013
15th Jun 2020
My thinking having researched the point is that I am not sure - hence my question. If you really want to know my thought process it is this - there is no income to deduct it against therefore maybe it cannot be claimed. But then again I don't think a rental property sole trader has to separate its income and expenditure on a property by property basis. Many sole traders have separate project based businesses and some projects make losses and these costs are still claimed. I cannot find any information online to answer my question.
31st Mar 2020
Do you take out the dividends when calculating total income proportions? Many thanks
13th Jun 2019
Thank you so much to everyone who has taken the trouble to post replies. I've got to admit any uncertainty I have alluded to is based upon the potential client not having English as a first language and feeling rather pushed into the scheme without understanding the details. The question of self employment vs employee is one I have not yet arrived at a conclusion and I'm awaiting more answers to make this decision. However his work has involved various delivery driver roles one of which is a very well known online supplier who insists that staff are self employed. I believe whilst on the face of it these workers appear as employees (only work for 1 company), since they are allowed to claim fuel they can be determined as self employed. I'll continue to ask questions and would like to contact the previous accountants to obtain documents actually submitted to HMRC to get more clarification. Thanks again all.
12th Jun 2019
Fair enough. No he doesn't need to be VAT registered by a long way and no expenses expected.
7th Mar 2019
Yes - that's exactly what I mean
27th Feb 2019
Hi - I ended up using the free VT software last week and found it very user friendly. I ended up speaking to a VT representative on the phone too over the same question. Basically you link the box numbers on the software to a cell on excel so in theory no you don't need all the individual data. There's still time for HMRC to get back to me and say it's wrong though says the cynic in me! But the VT guy claimed this method is fine. Hope this makes sense!
13th Feb 2019
Likewise, responses like this make me realise how sad it is that people have the time and need to write derogative unhelpful answers. I often pre-empt my questions with ' sounds like a silly question' because I am not overconfident and am always questioning the nitty gritty of legislation. I actually think it's a reasonable question given my situation whereby my client is a small sole trader who has opted to register for VAT despite having turnover under the threshold. I've always associated 'trolling' online with youngsters with nothing better to do with their time but clearly I was wrong. Apparently adult professionals appear to show the same behaviour.
13th Feb 2019
Many thanks . Exactly what I thought but wanted clarification.
7th Feb 2019
Many thanks. A further question - my client is VAT registered but not a limited company - sorry if sounds silly question - but is it both sole traders and ltd companies who have to comply with MTD software?
9th Jan 2019
Thank you. I’m surprised you can claim such a high mileage rate given how cheap it is to run an electric car. Am I right in thinking you can claim the business proportion of the lease cost too? Thanks