Hi All
I am in the process of filing for the first time our tax return on ROS and need some valuable assistance regarding some areas on the return.
I am PAYE worker and Hubby Self employed. He closed his Ltd company and compleated returns with our accountant for Y/E 2010. All in order. Due to high cost and fall in income we could not use the accountant moving forward.
I understand that we only need to do an Income & Expenditure account. I have done the figures and i have Gross turnover figure.
We had a bad Debt amount that revenue told us to deduct from our gross turnover that i have back up for and along with expenses (materials Phone Van Exp ). Then we have his pension contributions do i deduct his pension contributions from Gross figure to come up with net income ?
I am in the process of filing for the first time our tax return on ROS and need some valuable assistance regarding some areas on the return.
I am PAYE worker and Hubby Self employed. He closed his Ltd company and compleated returns with our accountant for Y/E 2010. All in order. Due to high cost and fall in income we could not use the accountant moving forward.
I understand that we only need to do an Income & Expenditure account. I have done the figures and i have Gross turnover figure.
We had a bad Debt amount that revenue told us to deduct from our gross turnover that i have back up for and along with expenses (materials Phone Van Exp ). Then we have his pension contributions do i deduct his pension contributions from Gross figure to come up with net income ?