Hi im setting up a small business in wholesales to retail and individuals,
this might sound dumb, but what is my self assessment tax based on?
The turnover of my business and what goes into my business account or the profits i take from my business and put in my personal account?
Is money i choose to leave in my business account considered "working capital"??
Also would i be mad to set up now, or wait a month until after pay and file deadline? i have no sales yet, could i put down zero for this year and say 50euro for next year?
thanks conor
this might sound dumb, but what is my self assessment tax based on?
The turnover of my business and what goes into my business account or the profits i take from my business and put in my personal account?
Is money i choose to leave in my business account considered "working capital"??
Also would i be mad to set up now, or wait a month until after pay and file deadline? i have no sales yet, could i put down zero for this year and say 50euro for next year?
thanks conor