Hi, can anyone help with Form 11 Tax return, for self employed ?/
The terms used on the form are confusing, the Revenue guidelines just use the same terms.
I'm sole trader, no staff.
So, Example Only:
Sales/Turnover 25,000
Purchases 500
Gross Trading profit 24,500
Total Deductions (motor, rent, goodwill, fees etc) 5,000
Cash Capital introduced 200
Drawings 19,500
Using the above figures specifically:
(1) What is my Assessable Profit ?
(2) What is my Closing Capital Balance ?
(3) What is my Net profit per accounts ?
Any help greatly appreciated.
I'm not asking for the formula, I'm asking for the figures, its these three items I'm stuck on the Form11
Rob.
The terms used on the form are confusing, the Revenue guidelines just use the same terms.
I'm sole trader, no staff.
So, Example Only:
Sales/Turnover 25,000
Purchases 500
Gross Trading profit 24,500
Total Deductions (motor, rent, goodwill, fees etc) 5,000
Cash Capital introduced 200
Drawings 19,500
Using the above figures specifically:
(1) What is my Assessable Profit ?
(2) What is my Closing Capital Balance ?
(3) What is my Net profit per accounts ?
Any help greatly appreciated.
I'm not asking for the formula, I'm asking for the figures, its these three items I'm stuck on the Form11
Rob.
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